Neil MacGillivray: When the cards are stacked in favour of HMRC

HMRC have advised that they processed 42,046 tax repayment claim forms purely in relation to flexible pension withdrawals in 2021. If you think that's a scary number, then you might be equally shocked to learn that the claims amounted to an eye-watering £143m of overpaid tax having to be repaid to claimants during the year. Many who've overpaid may yet still make a claim for repayment through their annual tax return or be waiting for HMRC to work out the amount to be refunded, therefore the figure is likely to be much higher. The fact that pension freedoms will have been with us for s...