HM Revenue & Customs (HMRC) has estimated that 300,000 annuity holders will cash in their contracts when new legislation comes into force next April.
The prediction, which will bring in a tax windfall of £960 million in the first two years after the changes have been introduced, was made in a paper released on Wednesday by HMRC.
Source Moneywise http://ift.tt/1VHR9RS
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