Autumn Budget 2017 Date & Predictions: Stamp duty & pensions could be in Hammond's speech

Pensions

Pension tax relief could also be under fire from the Chancellor – especially as the Government was forced to maintain the state pension triple lock.

Under the current system, relief is linked to the income tax rate of a saver. It means higher rate tax payers get relief at 40 per cent, while those on the basic rate are given relief at 20 per cent.
It is thought the Government may move to a flat rate of around 33 per cent – a change that would hit middle earners harder.

However, Steven Cameron, pensions director at Aegon, said the Chancellor should promise not to change tax relief until after Brexit, to give savers certainty for the future.

But the Government should consider combining pension and stamp duty policies, according to Mr Cameron.

He said: “Housing policy needs to be better connected to pension policy.

“Reducing stamp duty would encourage pensioners to downsize, freeing up family homes with benefits across the housing market while boosting funds to pay for retirement.”