The £100 tip can stop you from being caught out by the tax man - here's what you need to do.
HMRC has been forced to refund over £42 million in taxes wrongly taken from flexible pension withdrawals in the first quarter of this year alone, with the total for the tax year soaring to a staggering £198 million. The sum of tax repayments for incorrectly charged pension withdrawals has now surpassed £1.2 billion, Bristol Live reports.
He added: "There must be a better way of managing these withdrawals, especially if people are targeting a specific reason to use the money and find themselves short due to emergency tax being applied." Top Trending Stories Today "That will result in the tax being taken at source being far more accurate in many more cases, not only reducing the burden of paperwork but equally importantly the customer receiving a more accurate withdrawal in the first place.
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