HMRC repays record £61m in overpaid pensions tax in Q3 2023

Over £1.1bn has been reclaimed in overpaid pensions tax since freedoms were introduced

Martin Richmond
clock • 2 min read
HMRC repays record £61m in overpaid pensions tax in Q3 2023

HM Revenue and Customs (HMRC) repaid a record amount in overpaid pensions tax in the three months from July to September this year, figures published yesterday (26 October) have shown.

In its October pension schemes newsletter, HMRC said a record £61,305,602 was repaid in the period from 1 July to 30 September, with the average reclaim amounting to £3,252 - a slight decrease on t...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Government Actuary's Department announces death of Martin Clarke

Government Actuary's Department announces death of Martin Clarke

GAD says former government actuary made ‘huge contribution to the industry’

Jasmine Urquhart
clock 18 June 2024 • 1 min read
Calum Cooper – Pensions are the gift that must keep giving

Calum Cooper – Pensions are the gift that must keep giving

The consultant says that a better later life for workers requires change

Calum Cooper
clock 18 June 2024 • 5 min read
Good News Corner: PIC's Tracy Blackwell wins 2024 Bold Woman Award

Good News Corner: PIC's Tracy Blackwell wins 2024 Bold Woman Award

Accolade recognises inspirational women with a proven track record of success

Professional Pensions
clock 18 June 2024 • 1 min read
Trustpilot