The Taper-worm that’s looking to consume your income

April 05, 2016 Tom Murray

Pensions tax relief taper pension tax relief

The Taper-worm that’s looking to consume your income The start of a new tax-year means it’s time to give yourself a financial health-check. Although, thanks to the iniquity of the Retail Distribution Review, far more people will be reviewing their financial health themselves instead of turning to the expertise of an Independent Financial Adviser, given how off-putting the up-front costs for advice are.
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Investment Life & Pensions Moneyfacts: Lifetime Savings Product - A crystal clear concept

July 15, 2015 Tom Murray

Pensions UK tax relief Annuity retirement age

This article was originally commissioned and published in June 2015 for Investment Life & Pensions Moneyfacts publication. Tom Murray argues that merging ISAs and DC pensions to create a lifetime savings product would transform the savings landscape and bring some much needed clarity.
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Taxpayer being steamrollered by pension electoral tactics

October 07, 2014 Tom Murray

Pensions UK tax relief Death tax Life and Pensions

Why have the government decided to distort the tax system by making pensions capable of being used as a device to avoid inheritance tax? The casual approach of the Treasury to pension strategy, with sudden announcements of ill-considered changes, shows a lack of coherent thinking behind the changes in the pension system. This has led to a lot of post-facto explanation and justification to try to cover up the lack of thought prior to the announcement.
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Latest pension changes undermine the case for pension tax relief

September 29, 2014 Tom Murray

UKIP Pensions UK tax relief Osborne

The Conservative Party has been heartened to hear that the Chancellor is responding to the attacks from UKIP with a straightforward appeal to the grey vote. He will announce to the party conference today that he is changing the tax rules that apply to income drawdown pots post the death of the pensioner; the so-called death tax that applies to the family who cash in the pension fund. From now on, this will only be taxed at the marginal rate, if the pensioner is over 75 when he dies and will not be taxed at all if the pensioner dies before that age.
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Time for Osborne to lash himself to the mast

March 08, 2012 Tom Murray

Pensions UK Chanellor tax relief Life and Pensions

As the Chancellor sits in his study in No. 11 and ponders the fate of the higher rate tax relief on pension contributions, you have to be a bit sympathetic to his dilemma. Overall his basic political philosophy would push him to encourage people to save for their own retirement provision. However, given the state of the economy, the pressure from the Treasury to take a short-term fiscal benefit by removing higher rate tax relief from pensions is very strong, because it is seen as an easy way of picking up an extra £2 billion.
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