Chancellor of the Exchequer, Rachel Reeves

A significant tax overhaul affecting a scheme used by millions of Britons is reportedly being planned for the upcoming Budget next week. The Treasury is rumoured to be preparing a tax grab that would impact salary sacrifice schemes, which allow employees to reduce their tax by allocating a portion of their gross salary towards a pension.

However, it's reported that Chancellor Rachel Reeves views the current system as unfair. The Financial Times reports that reforming the salary sacrifice scheme could be one of the most substantial measures in the Budget , set to be delivered by Reeves on Wednesday, November 26.

The proposed arrangement would cut the sum individuals can sacrifice from their wages to contribute to their pension pots without p

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