Pension tax refunds reach £55m

Pension freedom rules mean those aged over 55 no longer have to purchase an annuity to access their pension income but can instead enter drawdown, take a cash amount or buy an annuity.


Pension tax repayments top £54m

HMRC has handed back almost £55m to savers who had overpaid tax on pension withdrawals in the past three months, the highest figure since drawdown rules were relaxed


Employers risk LTA protection breach

The lifetime allowance – the limit on the amount of money that can be saved in a pension without triggering a tax charge - currently stands at £1,055,000 and there are three fixed protections in place – one from 2012 at £1.8m; 2014


HMRC collects £600m through tax probes

COP8 investigations, used by HMRC for complex cases where a taxpayer may have used an avoidance scheme or device to reduce tax liability, accounted for 43 per cent of the figure recovered in that period and COP9 cases