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Home Publications Millions to be taken out of the savings tax net, but taxes and charges continue to make decisions hard for savers

Millions to be taken out of the savings tax net, but taxes and charges continue to make decisions hard for savers

Press release

Savers face a complex and changing array of different tax treatments. These differences are big and can make the cost of choosing the ‘wrong’ savings vehicle very large. In addition apparently small differences in fees and charges can outweigh the effects of different tax treatments. Meanwhile pension auto-enrolment arrangements, which compel matching contributions from employers, will make saving through pensions auto-enrolment much more attractive than almost any other option with the same underlying return.

These are among the main findings of new work by IFS researchers on how taxes and charges can affect the attractiveness of different forms of savings.

Find out more

Report
In this report we describe the forms in which household wealth is held, we set out the effects of the current UK tax system on the incentive to save in different assets, we consider the implications of a number of reforms due to be introduced or currently under consideration, and we analyse the ...
Presentation
This presentation was given at the launch of a report on the taxation of savings on 16 February 2016.