THE taxman has been warned to stop using savers as a “cash cow” by launching a raid on pensions tax relief. This relief is given as an incentive to put money aside for retirement, but it now costs the Treasury a record £41billion a year, according to new figures from HM Revenue & Customs.
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HMRC urged not to be tempted to use pension tax breaks as a ‘CASH COW’
![HMRC urged not to be tempted to use pension tax breaks as a ‘CASH COW’]()
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