Chancellor Philip Hammond is set to announce cuts to pensions tax relief in his Budget later this month in order to raise revenue to pay for NHS funding commitments, according to reports.
Hammond is currently considering either cutting the rate of relief or reducing the tax-free annual allowance, The Telegraph reported, to help fund a £20bn boost to the NHS that prime minister There...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
