Allow annuities to be sold We wont need help and Government could get up to £75Billion tax

Allow annuities to be sold We wont need help and Government could get up to £75Billion tax

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Patrick Bergin started this petition to Chancellor of the Exchequer and

Millions of people, including me, a bus driver, may face crippling challenges in our finances as a result of Covid-19.
Not everyone has the chance to get past this, but annuity holders do.

Chancellor Osborne made it possible to sell annuities, but Chancellor Hammond cancelled this option early on in his tenure.

Today, millions of people face stark choices going forward. If I use my figures as an example, some 4 million people selling their annuities, would provide them around £37,000 to £42,000 as a lump sum.

Based upon these numbers the Revenue would receive between £50 Billion and £75 Billion in tax? Surely this is a win for both the people and will go some way to repay the fantastic sums that Government is providing during this crisis.

Perhaps making it easier and less painful for many who may face extra tax etc, as a result of this situation.

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