We set out issues with the inheritance tax system and examine options for reform and the distributional impacts of … reforming or abolishing the tax. …

of workers born in 1950 or later. At the same time, a tax-facilitated savings plan was introduced that substantially … between private and public wealth. On the other hand, there is a group of mostly high-wage workers who participate in the tax …-facilitated Life Course Savings Scheme and who increase private savings to fully counter the impact of the drop in public wealth. A …

Although tax relief on pensions is a controversial area of government expenditure, this is the first study of the tax … effects for a real world defined benefit pension scheme. First, we estimate the tax and national insurance contribution (NIC … wealth of the sponsor, government, and 16 age cohorts of members, deferred pensioners and pensioners. Second, we measure the …

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 out. Furthermore, any funds that remain in a pension at death …

This report highlights 10 key facts about UK tax and public finance policy that will underpin the choices faced by …