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Summer budget predictions on pensions and tax

The Chancellor will be looking to raise tax and is likely to some major reforms in train.

The summer budget on 8 July is the first real opportunity for the Chancellor to put his mark on the nation's finances, unconstrained by coalition negotiations. Here’s what he could do in three areas that may affect your investment plans and income.

Pensions

If you haven't used your pension allowances, then you still have a few days to do so before the Budget on 8 July. We recently reported that wealthy people should seriously consider maximising their pension contributions with a one-off contribution, while tax reliefs are still generous.

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