A crackdown on pensions liberation has led to HMRC rejecting 362 pension scheme applications in the last nine months.

HMRC changed its processes for registrations to tackle pension fraud on 21 October 2013 and has since turned down 8% of those applying.
The number of applications made after the measures to crackdown on liberation were made dropped significantly, from 4,530, compared to 11,184 in the six months before.
No decision has been made yet on 4% of the 4,530 applications, with 88% approved.
A statement from HMRC read: "The changes to our process are part of a Government wide initiative involving HMRC and other agencies aiming to detect, disrupt and deter promoters of pension liberation schemes and to ensure that individuals are aware of the true tax position.
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"The vast majority of pension funds abide by their legal obligations but we won't hesitate to de-register a pension scheme where rules are not adhered to.
"We will apply and enforce all tax charges against both the promoters of pension liberation schemes and pension savers."
In total, for 2012-13 HMRC received and registered 15,140 schemes.
For 2013-14 it received in total 15,714 applications to register pension schemes.
HMRC publishes figures on the number of new pension scheme registering for tax relief, twice yearly.
All new applications to register a pension scheme are reviewed to enable HMRC to make a decision on whether the scheme meets the conditions to be a registered pension scheme.