Thousands of pension savers forced to reclaim large emergency tax bills – Royal London
Clare Moffat said: “A rise in large lump-sum withdrawals will likely mean an even greater spike in emergency taxes on those withdrawals."
Government extends public sector pension scheme pays deadline to July 2027
Ministers agreed that this would help those still waiting for revised pension input statements.
Self-employed boost private pension contributions as tax relief costs fall – HMRC
A total of 23,370 people reported pension contributions above their annual allowance through self-assessment, down from 32,540 in 2022/23.
More pensioners set to pay income tax as allowance freeze bites – HMRC
The full annual new state pension reached £11,973 in 2025/26, which pushed hundreds of thousands more pensioners into paying income tax.
HMRC repays £44m in pension flexibility claims in Q1
During this three-month period, HMRC processed 9,694 forms under the P55 category, which applies when individuals have taken part of their pension pot but are not fully retiring.
Frozen tax thresholds to add 17.9 million brits to income tax rolls – Quilter
The analysis also highlighted that 8.2 million individuals over 60 will be affected.
One in five UK professionals now working a second job, says Robert Walters
New research from Robert Walters finds 19% of UK professionals have a side hustle, with 30% considering one due to financial pressure and rising costs.
UK tax gap increases by 21% in past 10 years, finds RIFT
As part of the Spring Statement, the Government announced plans to reduce the UK’s tax gap in order to raise around £7.5bn in national revenue.
PAYE and NICs receipts rise by £12.6bn between April 2024 and February 2025 – HMRC
Self Assessment Income Tax, Capital Gains Tax and NIC receipts for the same period are £62.4bn, up £3.8bn from a year earlier.
£35m added to State Pension pots using online top-up service
More than 37,000 online payments have been made through the service.
HMRC issues warning to workers who receive tips
According to the LITRG, "If an employee gets cash tips directly from a customer without the employer being involved, the tips belong to the employee."
HMRC to recruit 5,000 tax inspectors in £6.5bn compliance push
HMRC is set to recruit 5,000 additional tax inspectors as part of a compliance drive aimed at narrowing the tax gap.
