Pension

On 26 November 2025, British Chancellor of the Exchequer Reeves announced the highly anticipated Autumn Budget. This Autumn Budget includes several tax measures aimed at businesses and individuals, covering areas such as venture capital, business rates, income tax thresholds, and high-value property taxes.

The UK plans to abolish the tax exemption for low-value parcels by March 2029; the income-tax threshold freeze is pushing millions into higher tax bands, increasing the burden on working households; and net migration has fallen sharply as work and study visa arrivals decline significantly.

Under current UK law, life insurance payouts are not automatically exempt from Inheritance Tax. Whether they are taxed depends entirely on how the policyholder and beneficiaries are arranged. The key factor is whether the payout forms part of the deceased’s estate.

State pension likely to rise by 4.7% in April! Temu’s UK operation doubles revenues and pre-tax profit! Reeves plots ‘taxi tax’ as borrowing costs soar

Britain’s pension system is under mounting pressure, with millions of retirees already struggling to make ends meet and younger generations at risk of even greater hardship in the future. Recent data from the International Longevity Centre (ILC) and the Pensions Policy Institute paints a stark picture of a nation facing a deepening retirement crisis.

State pension alert: DWP called to raise payments to £586 a week and slash retirement age to 60; Online fashion retailer Shein’s UK sales leap by a third to more than £2bn; UK Cuts Dividend Tax Allowance Twice: 3.6 Million Investors Now Face Tax

Rachel Reeves needs to put up taxes to cover £40bn deficit; HMRC could claw back VAT from private school advance fee schemes; Interest rate cut to lowest level in more than two years

The UK Chancellor is considering ending the pension 'triple lock' system and introducing charges for NHS treatments; over 24 local councils are pushing for a four-day workweek, with South Cambridgeshire District leading the way by making it permanent; UK MPs jointly call for the introduction of a 'wealth tax'.

New data released through a Freedom of Information request shows that over five years, the number of savers opting to access their pension flexibly ahead of retirement has increased by 18%. Why are so many choosing to dip into their pension pots early rather than waiting until full retirement age?

Moving To Europe to Receive Your UK Pension Tax-Free? In recent years, a growing number of British pensioners have opted to retire abroad—especially in EU countries. According to the latest analysis, tens of thousands of UK retirees living in Europe are enjoying what some are calling a ‘hidden perk’: receiving as much as £35,000 a year in State Pension income, with little to no UK tax liability.

In this article, we’ve compiled eight key personal tax reliefs and allowances still available, along with how to apply for them. These will help you manage your tax planning more effectively and protect your wealth. Save or bookmark this guide for future reference.

UK's pension triple lock to cost three times more; Donald Trump announces 30% tariff on imports from EU; HMRC confirms new income tax change starts next April

In just the past month alone, HMRC collected nearly £800 million in inheritance tax (IHT), marking the second-highest monthly figure ever recorded. As a result, many families not previously considered wealthy are now being swept into the scope of IHT.

Did you know? Nearly half of retirees to be hit by Inheritance Tax bill. According to data analysis, approximately 46% of individuals aged 85 to 89 receive a State Pension that exceeds the £12,570 tax-free personal allowance, meaning they must pay income tax on their pension income. For retirees aged 90 and above, this figure stands at 45%. Among those under 85, around 22% are also taxed on their State Pension income — effectively subject to a so-called ‘retirement tax’.

Between the 1970s and 1980s, around 5,000 haemophiliacs and other blood disorder patients in the UK were infected with HIV or hepatitis viruses after receiving contaminated blood products from the NHS. Nearly 3,000 died as a result. Under current UK inheritance tax laws, only the first direct heir is exempt. Any subsequent inheritance of that scandal compensation is subject to up to 40% tax.

Recently, the Department for Work and Pensions (DWP) issued a new statement announcing that, due to a historic state pension error, over 130,000 individuals have received a total of approximately £800 million in backdated state pension payments.

On 18 March 2025, the UK welfare system reached a turning point. Liz Kendall, Secretary of State for Work and Pensions, firmly announced in Parliament a ‘surgical’ reform of the social security system, aiming to strip £5 billion annually from public welfare spending. The sweeping reforms targets 34 different benefits, from disability allowances to chronic illness support.

Tax rise warning after higher-than-expected UK borrowing. Trump threatens 50% tariffs on EU and 25% on iPhones. HMRC issues 'minimum tax bill' of nearly £100,000 UK homes.

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