Pensions: Tax overpayment of £1bn prompts reform call
Some people who access part of their pension are initially charged under an emergency tax code. …
“It is a scandal that government has failed to adapt the tax system to cope with the fact Britons are able to access their pensions flexibly from the age of 55, instead persisting with an arcane approach which hits people with an unfair tax bill, often running into thousands of pounds,” said Tom Selby, from investment platform AJ Bell.
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