Chancellor hints at lowering the annual allowance

The annual allowance on pension tax relief is expected to be cut in Budget 2018, according to predictions from Royal London. In a recent speech, Chancellor Philip Hammond said the cost of pension tax relief is "eye-wateringly expensive", adding to speculation that it...

Inheritance tax exemptions ‘should be replaced’

Chancellor Philip Hammond is being urged to remove layers of complexity surrounding inheritance tax when delivering his Budget. The Office for Tax Simplification (OTS) is due to make its recommendations, which may include a single, larger annual exemption to replace...

Childcare vouchers close to new applicants

The Government's childcare vouchers scheme has been closed to new members, as of 4 October 2018. The employer-backed scheme was originally expected to be replaced by tax-free childcare on 5 April 2018. However, the childcare vouchers scheme was extended after parents...

Less than 4 in 10 adults have made a will

Most adults do not have a will, but those who do are satisfied with the process of making one, research shows. A YouGov study of 2,063 adults in the UK found that only 38% have made a will, and most tend to put off doing so until later in their life. Around two-thirds...