New rules spare bereaved families from tax on delayed pensions
Under new rules, bereaved families will not be charged tax on pension payments that are delayed, the BBC reported.
Under new rules, bereaved families will not be charged tax on pension payments that are delayed, the BBC reported. The change follows warnings from campaigners that some families could face an unfair financial penalty because of delays which were not their fault. Previously, relatives could have been liable for tax even though the delay was beyond their control. The new provisions lift that tax charge, removing the risk of an unexpected bill for grieving households. Officials said the measure addresses the concerns raised by campaigners and protects families from an additional financial burden during a difficult time.
Why it matters
It stops unexpected tax charges for families coping with loss, correcting a fairness issue highlighted by campaigners.
Key details
- Location
- United Kingdom · Europe
- Reported by
- BBC News
- First reported
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at BBC NewsSpotted an error? Request a correction · How this summary was produced
Related Stories
'Tone deaf at best' - advice to stock up on essentials worries experts and low-income families
Some families say they cannot afford to stockpile in line with the government's advice.
How families are cutting the cost of Halloween as spending grows
Families are turning to homemade costumes, swaps and second-hand outfits to keep it affordable.
Rising demand from families needing Christmas help
Charlotte Riley says more families are reaching out for help for a variety of reasons.
Ban ‘intrusive’ cameras on mental health wards in England, say bereaved families
Lawyers tell inquiry ‘patients’ lives are at stake’ through improper use of Oxevision system for most vulnerable Families bereaved by the misuse of…
Eight of England's water firms rated poor or needing improvement, says report
The Guardian reported that a joint assessment by the Environment Agency, the Drinking Water Inspectorate, Natural Resources Wales and Ofwat rated…
ECB president Christine Lagarde to quit early to speak on world affairs
The Guardian reported that Christine Lagarde will leave her post as president of the European Central Bank nine months ahead of schedule.
DoorDash to acquire Instacart in $17bn deal, promising more store choices
DoorDash announced it will buy Instacart in a $17bn transaction, saying the deal will broaden options for customers, the BBC reported.
BBC says Healey's micro budget leaves gaps for long‑term plan
The BBC reported that Chancellor John Healey's recent budget falls short of the radical action needed to deliver a promised new economic model.