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CIOT and IFS debate on the tax regime governing pensions and savings.
KEY POINTS
- Major tax changes on savings interest and dividend income.
- Paying 8% of earnings into an auto-enrolment pension will not be enough.
- The public has little understanding of pensions.
- Do we need a lifetime allowance and an annual allowance?
Is there a plan for the taxation of savings or do governments just make it up as they go along? The latest debate held by the Chartered Institute of Taxation and the Institute for Fiscal Studies (IFS) looked at the role tax plays in pensions and savings. Is the system working or is more reform required?
The panellists were: David Thomas deputy director pensions and savings HM Treasury; Paul Johnson director IFS; Yvonne Braun director long term savings policy Association of British Insurers; and Charles...
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