Budget 2017: Tax move will penalise savers, says insurer

Budget 2017: Tax move will penalise savers, says insurer
 

Millions of small savers may be hit by a little noticed tax change in the Budget that affects long term policies sold by insurance companies and sometimes collected door to door.
When the chancellor announced he was abolishing the Corporate Indexation Allowance on Wednesday, the Treasury said it wouldn't affect individuals.
But Royal London Insurance said savers are likely to lose out.
It said the total cost could amount to hundreds of millions of pounds.
"From the early numbers that we've looked at we think that millions of people have these policies and they'll be losing relatively... read more

 
24 November 2017 in Business, Views: 59
Source: BBC
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