“IHT to be ‘battleground policy’ in general election as receipts continue to grow”

Jan 1, 2024 | Tax

Just when you thought Inheritance Tax was to become yesterday’s news, it’s back as, apparently and potentially, a ‘battleground policy’ as the election looms. The amount it raises is bound to have increased, as are receipts from all other taxes, where allowances have been frozen and inflation has inflated what’s being taxed. But in the grand scheme of things, it doesn’t raise a lot, so making it better or worse will have more of a psychological (for which read vote-winning or losing) than sorting-out-the-NHS type of effect. So, yes, probably easy meat for a headline or two.

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“More than a third of pots non-advised when entering drawdown”

“More than a third of pots non-advised when entering drawdown”

Three headlines this week which should give rise to at least a bit of concern amongst the adviser community. More than should be are taking money, taxable as well as tax-free, from their pensions without taking advice; which might be fine, but how it’s done can have a big effect on both tax and what might be left for the future.