Pension Tax free lump sum could be a thing of the past..... (1 Viewer)

[Minxy]

Being a bit of a sceptic I rather suspect the retrospective application refers to those who have already taken it rather than those that have one saved. Where any lumps taken after its introduction will be taxed regardless of when the contributions were made.

But it says:

"The Isa approach would stop people building up any more tax-free lump sums on future pension savings"​

It therefore implies that if you're already got pension savings built up it would by default be exempt from being taxed, regardless of when you take it. I'll have to do some digging and see if I can come up with more info.

 

[Paddywack]

But it says:

"The Isa approach would stop people building up any more tax-free lump sums on future pension savings"​

It therefore implies that if you're already got pension savings built up it would by default be exempt from being taxed, regardless of when you take it. I'll have to do some digging and see if I can come up with more info.

I'd feel happier if that was case, sadly this would be impossible to administrate, and more importantly wouldn't give Gideon the tax take he needs to address the slowing economy.

 

[Minxy]

I'd feel happier if that was case, sadly this would be impossible to administrate, and more importantly wouldn't give Gideon the tax take he needs to address the slowing economy.

Since when has that ever stopped them doing anything!

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