Treasury enjoys extra £400m pension tax windfall

The document, which was published alongside the Budget, revealed a significant upgrade in the estimated pension freedoms tax take for 2018/19. Based on the Spring Budget 2017 costings, which factored in a tax take of £900,000m in 2018/19, Monday's figures suggested a near 50% increase in revenue raised from the pension freedoms this year to £1.3bn, taking the grand total generated in tax by the policy to £5.5bn. AJ Bell senior analyst Tom Selby said: "The whopping £13bn cut in the OBR's borrowing forecast for this year wasn't the only windfall to land in the chancellor's pocket yester...