More Caught By Pension Allowances In The UK
More caught by pension allowances: but more flexibility means lower penalties [soros] Q1 2021 hedge fund letters, conferences and more 47,880 people with personal pensions were caught out by the pension annual allowance in 2018/19.This is up almost a third in a year, and is more than four times the number who fell foul of the rules before the tapered annual allowance was introduced in 2016/17.7,130 people were caught out by the lifetime allowance, up 100 from a year earlier.However, there was a rise in people who faced a 25% charge and took the money as income, and a fall in those who paid a 5...