Pension and dividend tax changes dropped as election looms

Confusion reigned this week as the Chancellor, Philip Hammond, revealed that two measures previously announced in his Budget will not go ahead. For now, anyway. Mr Hammond’s Budget, delivered in early March, will be remembered for the proposed National Insurance rise for self-employed workers. A few days later, following protests and a media backlash, he changed his mind. It now seems that two other measures, which would have affected pensioners and shareholders, will now not go ahead. Contribution cut Prior to the Budget, the Money Purchase Annual Allowance (MPAA), the maximum people who have withdrawn money ...