‘Radical overhauls’ of various bits of the tax rules are proposed as often as their ’simplification’. In most cases, by the time they’ve been through committees of civil servants and other reality checks, nothing much changes and very little is ever simplified. This time, however, he has a whacking majority and, assuming he still has a job after the forthcoming reshuffle, Saj may make some real changes. In a couple of years time.
“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.
