Chancellor Rishi Sunak sent a confusing message to pension savers when he froze the lifetime allowance in the Budget, writes Kay Ingram. If investment success could be rewarded with a tax bill, it creates a bizarre disincentive.
Pre-Budget rumours that tax relief on pension savings would be reduced to a standard rate, rather than the more generous marginal income tax rate of 40p or 45p in the pound did not surface in Sunak...
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