All very worthy, tax the rich, private equity capitalists, don’t fleece hard-working-families by putting up national insurance. Trouble is, those rich capitalists are just as clever as the Amazons and Starbucks at rearranging their affairs accordingly, and no extra funds will be raised. If HMRC doesn’t like it, they’ll happily tie them up in court for years, which will cost the taxpayer just as much, before the inevitable ‘settlement’. The reality? You can only raise the big bucks needed to ‘level up’ from those you’re trying to level up. Because, as we know, all men are equal, but some will always be rather more equal than others…
“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.
