Pension Annual Allowance Reform Exposes £895 Million to Taxation
According to new research obtained from HM Revenue & Customs (HMRC) by investment experts Kuber Ventures, of those people in the UK currently contributing to registered pension schemes, over 16,000 made contributions in excess of the £50,000 threshold by utilising the carry forward provisions(1). This represents an amount in excess of the new £40,000 limit being introduced in April 2014 of £895 million(2).
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