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Budget pensions cash rush could exacerbate tax overpayment issue

24 October 2024

A sharp rise in withdrawals from pensions driven by growing anxieties surrounding the upcoming budget, could see HMRC overcharging pension savers and having to make even more overpayment refunds, warn commentators. The latest Pension Flexibility data shows between 1 July and 30 September £44.3m has been repaid to people who paid too much tax...