Unsurprisingly the recent changes in pension rules and the possibility of an HMRC emergency levy on withdrawals has caused a stampede to HMRC's phone lines.
As many as one million people are believed to have called HMRC last Wednesday week, leaving the lines engaged throughout the day.
The Telegraph reports that people who telephoned were forced to spend 10 minutes navigating the options menus before being cut off because the waiting time was deemed "too long".
Instead a recorded voice advised savers who were worried about the tax implications of withdrawing their pensions to call Pension Wise, the Government's new general information service.That is fair enough, if the calls were about pension advice. However, if the calls related to the tax implications of a pension withdrawal then that is another matter.
That being said, HMRC were of the view the calls were simply down to the new tax year. A spokesman for HMRC said its phone lines were "very busy" because it was the start of a new tax year.
Tax does have to be taxing.
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