Steve Webb lambasts government over HMRC's tax repayment

HMRC's latest Pension Schemes Newsletter showed the government had to repay £26,835,357 to savers on pension funds withdrawn using pension freedoms. It said a total of 10,576 forms had been processed from 1 April to 30 June, and were a mixture of P55s, P53Zs and P50Zs. £12.7bn accessed flexibly since pension freedom - govt figures Now Royal London director of policy, Webb said: "It is outrageous that in just three months HMRC has overtaxed people by more than £26m. It cannot be acceptable to take thousands of pounds per person in excess taxes and then expect people to have to claim...