Speculation is mounting that the government could use its review of the
pension system as a justification to raise taxes.
Lord Turner is expected to recommend that the retirement age is raised from
65 to 67 in order to reduce the current pension deficit, and that taxes and
pension contributions should be increased.
The report, published on 30 November, is also expected to increase the weekly
pension by about £20 and to recommend that workers be automatically enrolled
into a national savings plan when they start work.
The Conservatives claimed yesterday that an earlier review of the healthcare
system by Derek Wanless had been used as a smokescreen for national insurance
increases to plug gaps in public spending, and that the same might occur with
pension-related tax increases.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed