Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Will equity release advice be sought in the wake of pension relief restrictions?

Thu 8th Apr 2010

Moves to curtail the UK pensions tax relief offered to high earners are being rushed through parliament ahead of the forthcoming election, according to the Chartered Institute of Taxation (CIOT).

The news could inspire a number expats in Spain still holding a property in the UK to look into equity release plans as a way of boosting their retirement income.

According to the CIOT, the government's recent Finance Bill will be rushed through parliament without proper scrutiny in order to pass before the May 6th election.

John Whiting, CIOT tax policy director, said: "We are particularly disappointed that the restrictions on pensions tax relief for higher earners are going forward in such an over-complex way.

"The Bill's proposals show no signs of there having been any listening to the views of most respondents which were that there were much simpler ways of achieving the aim of curtailing tax relief for the wealthy."

Expats who are owners of a property in the UK that are concerned about the prospect of a cut in pensions tax relief could now turn their attention to products such as lifetime mortgages, which can provide a regular income taken from the value of their property, to boost their retirement funds.

Comment on this Story

 
Be the first to comment on this Story !!

Recommended Items

Related Articles

Related Blogs