State pensioners sent £100,000 bills from HMRC after Rachel Reeves rule change

NewsCost Of LivingDWPPensioners have been slapped with sky-high tax bills12:14, 20 Jul 2026400 savers have been sent £100,000 tax bills after cashing in their pensions, it has emerged. Pensioners have been slapped with sky-high tax bills from the Labour Party government as they planned to get ahead of Rachel Reeves’s raid on unspent pots.‌400 taxpayers paid at least £98,700 to HMRC after emptying pension pots worth at least £250,000 between October 2024 and March 2025. It came as the Chancellor - who is widely expected to be replaced by Shabana Mahmood, the Birmingham MP, as Chancellor - announced that unspent pension wealth would be brought into the inheritance tax net from April 2027.‌Mike Ambery, of Standard Life, said: “Tax is becoming an increasingly important part of how people think