Pensions reform and tax

 Treasury to rake in £1.2bn in tax following pensions reforms

More than four times more money is being withdrawn from pension funds by older savers than predicted by the Treasury. Experts say the popularity of pensions reforms, which allow savers unlimited access to their pensions and ending the need to buy a lifetime annuity income, could provide an estimated £1.2bn tax windfall that George Osborne could use to cut the top rate of income tax say Harris & Co chartered accountants Northampton.