HMRC has 'no clue' how many members have faced pension tax allowance fines

Kim Kaveh
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HMRC has 'no clue' how many members have faced pension tax allowance fines

HM Revenue and Customs (HMRC) does not know how many people it has fined for breaching pension tax allowance rules, a Freedom of Information request has revealed.

Tax relief is normally available on pension contributions of up to £40,000 a year under the annual allowance. However, once a flexible withdrawal has been made savers become subject to the money pu...

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