Tens of thousands losing out in overpaid pension freedoms tax

James Phillips
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Tens of thousands losing out in overpaid pension freedoms tax

Emergency tax codes for one-off withdrawals under Freedom and Choice are leaving savers significantly overpaying on their tax bills, when in many cases they should pay no tax at all.

These savers are then failing to claim back the overpayment, leaving millions of pounds with the Exchequer, an AJ Bell analysis suggests. By default, an emergency tax code is applied to a first ...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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