HMRC repays 'sky high' UK pension emergency tax as total bill tops £1bn

Mark Battersby
clock • 4 min read

Fresh data from HMRC shows that pension tax overpayment refunds "continue to be sky high" moving through the first quarter of 2023 to reach £48,550,827.  Jon Greer, head of retirement policy at Quilter, said: "This is more than double the £22 million repaid in Q1 last year. This huge increase in the number of claim forms processed demonstrates the continued necessity for people to access their pension funds amidst the intensifying cost-of-living crisis impacting day-to-day financial situations. Unfortunately, this system leads to prolonged waiting periods for people to receive their full...

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