New HMRC figures reveal dramatic surge in pension tax charges

clock • 2 min read

New figures released by HMRC today show more than 37,000 people were hit with annual allowance charges in 2017-18, twice the number recorded in the previous year. The figures reveal £173m has already been paid by over 10,000 savers in annual allowance charges in 2017-18, and a further 26,550 people have reported contributions worth £812m over the annual allowance through self-assessment which will be subject to a tax charge. In addition, HMRC says 4,550 people paid £185m in lifetime all...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.