Displaying items by tag: HMRC

Despite all the pensions-related fear and speculation that swirled around in the media during the weeks leading up to the Budget on 30 October, it was more of a case of ‘what didn’t happen to pensions’, rather than what did.

HMRC repaid £44.3m to savers who paid too much tax when first accessing their pension between 1 July and 30 September.

Latest figures from HMRC reveal that the total government tax 'take' jumped £8.9bn year on year in the latest five month period.

New figures from HMRC have revealed that pensions lifetime allowance (LTA) penalty charges added a record £516m to the Treasury’s coffers in 2022-23, the last full year before it was abolished in April this year.

SIPP and SSAS provider body the Association of Member-Directed Pension Schemes (AMPS) has warned that an increasing number of Small Self-Administered Schemes (SSAS) approvals are being rejected by HMRC.

Pension scammers are acting with impunity as few have ever been held to account, according to industry body The Pension Scams Industry Group (PSIG).

New private pension figures published by HMRC have revealed that the number of self-employed people contributing to a personal pension climbed to 340,000 in 2021-22, up from 330,000 the previous year.

A surge in the registration of new and existing trusts with HMRC is expected ahead of the deadline of 1 September.

Inheritance tax receipts for April 2021 to February 2022 hit a new record high of £5.5bn.

The latest data from HMRC reveals an “astonishing” 40% of high earners failed to take out an ISA in the 2018/19 tax year.