It must feel almost as if not a week can go by without someone calling for higher rate tax relief on pensions to be scrapped. 0
This week it is the turn of the Treasury select committee calling for the equalisation of tax relief on pensions. It also suggests scrapping the lifetime ISA and removing the lifetime allowance – replacing it with a more restrictive annual allowance - something that might just be popular with advisers.
What is a lacking in the coverage is any consideration of just how likely it is that the Treasury itself will embrace these suggestions. This would be quite a controversial move among Conservative backbenchers. The answer is that it is difficult to say. The committee is usually very influential but perhaps less so when it comes to policy recommendations like this. At the same time, Chancellor Philip Hammond must be looking for new sources of revenue.
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