Dr Suzy Morrissey has been appointed by DWP to prepare an independent report ahead of the review. The government has today launched the third review of state pension age. First announced in July, the review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. The government is set to …
The measure will bring unused pension funds and death benefits into the scope of inheritance tax from April 2027. The government has confirmed that it will bring most unused pension funds and death benefits into scope of inheritance tax from 6 April 2027, despite growing concerns from the pensions industry. First announced during the 2024 Autumn Budget, the draft legislation means that …
Lowest level in two and a half years Interest rates have been cut to 4% by the Bank of England (BoE) Monetary Policy Committee in a move that was forecasted. So far, the BoE has opted to cut rates twice this year (February and March) while holding at the last one in June. Now the 4% rate cut means that interest …
Unused pension funds will fall under IHT scope from April 2027 The government is ploughing on with its plans to bring unused pension funds into the realm of inheritance tax (IHT) despite a “deluge of criticism” from industry practitioners during a consultation phase during which they put forward alternative options. The Treasury has today (22 July) released draft legislation to bring undrawn …
The measure will bring unused pension funds and death benefits into the scope of inheritance tax from April 2027. The government has confirmed that it will bring most unused pension funds and death benefits into scope of inheritance tax from 6 April 2027, despite growing concerns from the pensions industry. First announced during the 2024 Autumn Budget, the draft legislation means that …
Increases from 3.4% in May UK inflation rose to 3.6% in June, according to data from the Office for National Statistics, up from 3.4% in May. This figure came in above expectations from economists polled by Reuters, who had forecast the UK Consumer Prices Index (CPI) would remain unchanged from last the previous month. Month-on-month, alcohol and tobacco saw a significant …
