Revealed: Up to TEN MILLION savers to be hit by a £1.8bn stealth tax raid buried in Budget papers
Millions of savers will be hit by a £1.8billion stealth tax raid buried in the small print of the Budget papers.
Up to ten million people will be squeezed under new rules that target those who put cash in long-term savings plans offered by insurers.
The rule change hits savers who hold endowment, with-profit and whole-of-life policies.
These are popular plans used by families to save over ten or 20 years for their old age or for paying off home loans.
Obscure rules in the Budget reveal that these investments will all be hit with a new tax bill.
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