Fears of an imminent tax grab on the middle class has sent a wave of panic across the country.
With at least two months to go until her second budget the chancellor, Rachel Reeves, has been revealed to be considering a wide range of revenue-raisers — including a new inheritance tax squeeze, a new property tax on sales and even a raid on tax-free pension savings.
Financial advisers have told Money that they have had a flood of calls from clients worried about how to protect their money and are calling for the government to restore calm.
What’s going on?
The panic comes after pension savers last year rushed to withdraw their tax-free lump sums in the run-up to the chancellor’s maiden budget, only to find that she had not tinkered with the rules.
