HMRC rakes in £126m from lifetime allowance penalties

Added 19th September 2016

HM Revenue & Customs has reported a significant rise in the number of British savers breaching the lifetime pension allowance (LTA) over the past year, collecting £126m ($163m, €146m) in additional tax revenue between 2015/16, up 38% from £78m the previous year.

HMRC rakes in £126m from lifetime allowance penalties

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