HMRC Targets Pension Savers Who Repaid Lump Sum Withdrawals
In 2024-25, UK pension savers withdrew a record £70 billion from their retirement pots, a 36% increase from the previous year. This surge was driven by fears of potential cuts to the tax-free lump sum allowance, which currently stands at £268,275. However, recent developments have raised concerns for those who repaid their lump sum withdrawals.
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