Pension update as HMRC threatens huge 70% tax on lump sum

Prudent savers who returned their tax-free lump sum back into a pension could face an eye-watering tax bill of up to 70%.

Why you must take your tax-free pension lump sum NOW if you need it, JEFF PRESTRIDGE on what savers rattled by Budget fears can do

It's the big question being asked across the country - 'Will she, won't she cut the amount of tax-free cash that we can take ...
inews.co.uk on MSN

Taking your pension lump sum fearing Budget taxes? Beware if you change your mind

Pensioners who take their tax-free cash and then regret their decision may have to live with the consequences, under new guidance ...
Yahoo

Rachel Reeves warned against cutting tax-free pension lump sum as she seeks to raise billions

Rachel Reeves has been warned that cutting the tax-free amount people can withdraw from their pension pots would be self-defeating and “hit responsible savers who have diligently put money aside”. The ...

Thinking of cashing in your pension tax-free lump sum before the Budget? This is what you need to know first

Taking up to 25 per cent from your pension free of tax is a popular perk at retirement – so speculation that it could come ...
Pensions Age

Withdrawing pension lump sum top of the list for pre-Budget regrets

Industry experts have stressed the need to avoid knee-jerk reactions to the speculation often seen ahead of the Budget, after ...

Savers race to withdraw pension lump sums over tax concerns

UK pension savers rushed to withdraw their tax free cash over the past financial year, as people braced themselves for possible tax changes ...
inews.co.uk on MSN

Rachel Reeves ‘must shut down’ pension lump-sum tax rumours

Currently, the pension commencement lump sum allows people to withdraw up to 25 per cent of their pension pot tax-free, ...
AOL

Rachel Reeves considers cutting tax-free pension lump sum to raise billions

Rachel Reeves could consider cutting the amount savers are allowed to withdraw in a lump sum from their pension pots as she seeks to plug a multi-billion-pound hole in the public finances. The ...