HMRC reveals 79% rise in people breaching annual allowance limit

FOI request by Royal London

Julian Marr
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HMRC reveals 79% rise in people breaching annual allowance limit

The number of people reporting they had breached the annual allowance limit for pension tax relief rose by almost four-fifths (79%) between 2012/13 and 2014/15 - the latest year for which such figures are available.

A Freedom of Information (FOI) request tabled by Royal London to HM Revenue & Customs (HMRC) revealed that in 2014/15, when the annual allowance was £40,000, some 7,000 people reported on their tax return...

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