A probe into taxes on smaller businesses will be a key priority for the Office of Tax Simplification, as it was announced today that the body would be established on a statutory basis.

Anticipated cuts to the pensions tax relief for people earning more than £150,000 are ‘perverse’, the Wealth Management Association claims.

A think tank has proposed creating new workplace ISAs and ISA pensions in a move it claims would reduce the deficit by up to £10billion per year.

George Osborne declared his summer Budget was a “big Budget for a country with big ambitions” this afternoon.

George Osborne has opened up the possibility of “radical reforms” which could mean pensions become taxed like ISAs.

The new Help to Buy ISAs will be available to start saving into from 1 December this year, the Government has this afternoon announced.

George Osborne has announced married couples will be able to pass on properties worth up to £1m to their children or grandchildren free of Inheritance Tax.

Two key income tax commitments made by the Conservatives were included in today’s Budget.

The dividend tax credit will be replaced with a new tax-free allowance of £5,000 of dividend income for all taxpayers, the Chancellor has revealed.

New calculations have suggested the Treasury will get an extra tax take of around £700 million this year as a result of the pension reforms.