HM Revenue & Customs

The estimated cost of pensions tax relief for employees to the government is expected to hit £24bn in this tax year, according to government data.

HM Revenue and Customs (HMRC) has published an internal manual on how value-added tax (VAT) should be calculated for defined benefit (DB) occupational pension schemes.

HM Revenue and Customs (HMRC) paid out £37m in overpaid tax to pension freedoms users in the third quarter of the year, its quarterly figures have revealed.

Just under 200,000 people accessed their pensions using Freedom and Choice in the third quarter of the year, HM Revenue and Customs figures have revealed.

A rise in pensioner incomes and the freezing of pensioner tax-free allowance mean one in five taxpayers are now over the age of 65, Royal London says.

More than 10,000 counts of tax overpayment relating to pension freedoms have led to a £26.8m bill for HM Revenue & Customs (HMRC), latest data has revealed.

Average amount accessed per person continues to fall

The reduction of the annual allowance in 2014 has caused a significant rise in the number of people breaching the limit.

This week's top stories included the latest figures on pension withdrawals since Freedom and Choice, and the effect of President Donald Trump on DB deficits.

More than £1.5bn was withdrawn from pensions in the third quarter of this year, official statistics have revealed.