Pensions Expert Say That Claiming Back Tax Relief on Pensions Too Complex

HMRC -  Response from The People's Pension to the Which? report on tax return confusion (first issued under embargo yesterday)

Gregg McClymont, the director of policy at The People’s Pension and a former shadow pensions minister, said: “The Which? report highlights how difficult filling out a tax return can be for individuals. The complexity of claiming back pensions tax relief system via your tax return adds to the problems highlighted in the report. Previous research has shown that unclaimed tax relief sits at nearly £300 million a year or just over £1,000 per eligible worker.

“A universal flat rate of pensions tax relief would simplify the system as well as helping those on average earnings and below increase their retirement savings.

“There needs to be a full review of pensions tax relief, which the Government should announce as part of March’s Budget

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