HMRC plans for tax raid on pensions

HMRC plans for tax raid on pensions

Salary sacrifice shake-up could cost workers extra £500 a year

HMRC review signals potential pension tax changes in Autumn

Rachel Reeves could target pension savers in fresh tax grab as the Chancellor looks for additional ways to fund the government’s ballooning spending. His Majesty’s Revenue and Customs (HMRC) has published research as part of an official review of workplace retirement schemes, exploring cuts to the tax benefits of salary sacrifice pension schemes.  The schemes, which reduce the amount of tax and national insurance paid by both employees and emplo…