The tax system treats funds that remain in a pension at death extremely favourably. Where an individual dies before age 75, funds remaining in their pension escape income tax entirely - there was income tax relief when the money was paid into the pension and no income tax when the money is taken...

Personal Independence Payment (PIP) is a disability benefit that aims to support individuals facing higher living costs due to difficulties in mobility or carrying out everyday tasks. In summer 2021, each month 15,000 or so working-age people started a PIP claim. That monthly figure had remained...

UK business investment is the lowest in the G7 and among the lowest in the developed world. Tax has a role to play in shaping investment incentives, and the UK's corporate tax system is one of extremes. While the rate of corporation tax (19%) is exceptionally low, UK investment allowances are...

The aim of this report, the IFS's first in-depth analysis of the Scottish Government Budget, is to look at some of the key implications for the coming year, and for the longer term. We do not attempt to cover all of the different services that the Scottish Government is responsible for, or all...

How should pensions be taxed? We propose income tax and National Insurance reforms that would more evenly support pension saving. Pensions are the biggest component of household wealth and are treated favourably by the tax system. That means getting pensions tax design right matters. It matters...