George Osborne’s regime changes mean tax revenues up by over £5bn a year,says director of Institute of Fiscal StudiesGeorge Osborne is using pension taxes as a “milch cow” to pay off the deficit, the head of the Institute of Fiscal Studies has said.The chancellor is expected to announce the results of a Treasury inquiry into tax on pensions in the budget on 16 March. Among the changes being considered is the replacement of variable tax relief on pension contributions with a single, or flat-rate of between 25% and 33%,which would cause tall earners to lose some of their rebates.
Continue reading...
Source: theguardian.com