Top UK earners fail to claim over £750m tax relief every year
‘Whole pension tax relief system a bloated expensive mess, riddled with problems and inconsistencies’
HMRC
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Now is the time to tackle pension issues
Advisers and clients have had to deal with ‘too much chopping and changing’
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Industry still facing ‘tsunami’ of pension freedom challenges
Record year as flexible payments hit £9.4bn in 2019
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UK taxman refunded over £32m to pensioners in Q4 2019
After they were hit with emergency tax despite doing nothing wrong
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Brits retiring early for ill health risk being hit by tax bill
As they could breach their annual allowance, Royal London found
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UK parliamentary group proposes ‘complete overhaul’ of IHT
It has the ‘magical ingredient’ of simplicity and could mean less avoidance
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Drop in HMRC tax fraud investigations
As FOI shows number of raids fell by 23% last year but ‘interpreting the data is not straightforward’
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Five countries unite in global tax evasion crackdown
Cheats around the world ‘should be on notice that their days of non-compliance are over’
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UK passes cross-border tax disclosure law
Following EU push to increase transparency and tackle tax avoidance and evasion
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Quilter to help advisers tackle annual allowance issues
As Royal London FOI finds over 1,000 people failed to report pension tax charges
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HMRC collects £9m in penalties for early Lifetime Isa access
Exit charge is ‘trying to drive the right behaviours’ but damages the brand of the savings vehicle
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UK tax collector brings in £45m via mediation
But a law firm flags worrying drop in how often it was used in 2018/19