ÿFinancial secretary Ruth Kelly told MPs this week that the government’s pensions simplification document proposes tax free lump sums should only be available to those over 55.
But many service people – particularly in the RAF -ÿretire from the forces before then and use their gratuity to help them buy a house while returning to civilian employment.
Kelly told Taunton Tory Adrian Flook in reply to a question in the House of Commons: ‘The Government is considering separately the position of members of the Armed Forces pension scheme in the light of this proposal (to bar tax-free lump sums for theÿunder-55s).’
Taxman lines up early exit from doomed Concentrix tax credits deal, as HMRC faces intense scrutiny from MPs
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said