HMRC gets tough on pension liberation schemes | AccountingWEB

HMRC gets tough on pension liberation schemes

HMRC has tightened restrictions on "unscrupulous" companies encouraging people to access their pension savings early. The schemes, commonly known as 'pension liberation'. can have significant tax consequences.

The normal rule is that you cannot access pension savings before you reach the age of 55 or in some cases even later. The so-called 'liberation' schemes try to get round this age threshold, but the costs are high.

HMRC has changed existing paperwork to...


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