HMRC stats show sharp rise in people breaching pension tax limits

Chancellor felt ‘forced’ to act as number of people caught increased

Jenna Brown
clock • 3 min read
HMRC stats show sharp rise in people breaching pension tax limits

The number of people who have been caught by the annual allowance (AA) and lifetime allowance (LTA) limits on pension tax relief rose sharply in 2021/22, according to analysis of latest HM Revenue & Customs (HMRC) statistics.

Pension consultant LCP said the increase was part of the reason the chancellor "felt forced" to relax the rules considerably in the March 2023 Budget. The LTA was scrapped altogether during that sp...

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