Tax incentives granted to people in the UK on their savings and investments now amount to only 4.2 percent of HMRC’s total 2021/22 tax take, a decrease from five percent in 2020/21, research from Bowmore Financial Planning showed.
Incentives available on savings and investments include tax reliefs on pensions contributions, individual savings accounts (ISAs), and venture capital trusts (VCTs).
The UK government has introduced fewer new tax incentives in recent years and has...
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