Savers overtaxed £400m by HMRC on pension freedoms
HM Revenue and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.
When a saver accesses their pension fund to make a withdrawal, an emergency tax code is applied which operates on the basis that this sum will be received every month. Many savers accessed their pension...
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