HMRC unveils pension freedoms tax simplification move
The UK's Office of Tax Simplification has today published a review entitled 'Savings Income: Routes to Simplification', designed to help people understand taxation surrounding pension freedoms.
One of the points that the review covers is the over taxation of pension freedom payments. It states that more could be done to help people understand the tax implications of withdrawals from pension funds and points that the OTS would like to work with HMRC to identify options other than the use of emergency tax codes on pension withdrawals. Please link to International Investment to read the full article by Gary Robinson.