OTS review challenges 'emergency tax' on pension withdrawals

Jonathan Stapleton
clock • 3 min read

The Office for Tax Simplification has urged HM Revenue & Customs to review the usage of emergency tax codes for lump sum pension withdrawals.

In its report - Simplifying the Taxation of Savings Income - the advisory body said that, while the recently-introduced pension freedoms allowed people over the age of 55 to make withdrawals from p...

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