“Govt rules out pension tax exemption for doctors”

Apr 5, 2019 | Tax

Tags: GPs, Pensions

Yes, they do pretty well, but you wouldn’t want the guy or girl slicing into your parts to be working, American style, on £s per stitch. Yes, it’s a vocation, but knowing there’s a pretty decent pension at the end helps you put up with the hours, the NHS and James Robertson Justice (kids etc) shouting at you.  Whatever I say, NHS consultants won’t get much more sympathy from Joe Taxpayer than top civil servants, both of whom the big payers of the pensions lifetime allowance tax. And  no sympathy, either, it seems, from Joe Government.

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“HMRC scraps plans to tax pensions after death”

“HMRC scraps plans to tax pensions after death”

A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.

“Raising IHT threshold could cost government £6bn”

“Raising IHT threshold could cost government £6bn”

Well, the lesson of this week in politics must be to expect the unexpected. Or, alternative interpretation, to expect more of the same. The speculation on the future of Inheritance Tax has switched from abolition to a rise in the amount of wealth you can have before the 40% payment hits.