Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed question first answered answering member label
tabling member	label

Search

1138559

	registered interest
	date	11/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Tax Allowances
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the implications of recent changes to the Lifetime Allowance for pension benefits for those in (1) the legal profession, (2) the medical profession, and (3) other professions; and of the case for reviewing those changes.
	tabling member printed	Baroness McIntosh of Pickering
	uin	HL17117
	answer	answer is ministerial correction date of answer 18/07/2019 answer text <p>Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2017/18 income tax and employer National Insurance Contributions relief cost over £50 billion, with around two-thirds going to higher and additional rate taxpayers. As confirmed at Autumn Budget 2017, from April 2018 the lifetime allowance will increase in line with CPI, in order that the value of this benefit is able to keep pace with inflation. This means from April 2019 the lifetime allowance has risen to £1,055,000.</p><p> </p><p>The same tax rules must apply identically to everyone in the same situation, regardless of their employer.</p><p> </p><p>However, across all public service workforces the Government looks at remuneration in the round and takes action when required to ensure delivery of world class public services. Where there is evidence that the delivery of services is being impacted, the Government takes appropriate action to address this, in line with our principles for pay and pensions policy. This is why we have introduced a temporary, taxable, Recruitment and Retention allowance for a small section of the judiciary, and will shortly bring forward a consultation on a new 50:50 pensions flexibility for senior clinicians in the NHS pension scheme.</p><p> </p><p>All aspects of the tax system are kept under review and are subject to change through the annual Budget, in the context of the wider public finances. Any future changes to the tax system will be announced through this process.</p><p> </p> answering member printed Lord Young of Cookham question first answered 18/07/2019 11:12:10 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	384 label Biography information for Baroness McIntosh of Pickering

1064175

	registered interest
	date	19/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Tax Allowances
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many (1) employers, and (2) individuals have received demands for repayment of double tax relief resulting from errors in administration of pension contributions.
	tabling member printed	Baroness Altmann
	uin	HL13822
	answer	answer is ministerial correction date of answer 05/03/2019 answer text <p>The information requested is not available.</p><p> </p><p>Errors made by employers and pension providers have resulted in some individuals receiving either no tax relief on their pension contributions, or receiving tax relief twice. The HMRC investigation into this issue with a number of pension providers is ongoing.</p> answering member printed Lord Bates question first answered 05/03/2019 14:53:25 answering member 1091 label Biography information for Lord Bates
	tabling member	4533 label Biography information for Baroness Altmann

858523

	registered interest
	date	09/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how much was paid out in Lifetime Allowance charges in each year between 2010-2011 to 2017-2018; and what estimate he has made of the amount to be paid in (a) 2018-19, (b) 2019-2020 and (c) 2010-21.
	tabling member constituency	Witney
	tabling member printed	Robert Courts
	uin	131778
	answer	answer is ministerial correction date of answer 19/03/2018 answer text <p>Individuals whose pension savings exceed the Lifetime Allowance (LTA) are generally liable for tax when payments are made from their pension scheme.</p><p>Tax paid on LTA charges for 2010/11 to 2017/18 (year to date)</p><table><tbody><tr><td><p>Tax Year</p></td><td><p>Total tax paid (rounded to the nearest £10m</p></td></tr><tr><td><p>2010/11</p></td><td><p>£10 million</p></td></tr><tr><td><p>2011/12</p></td><td><p>£20 million</p></td></tr><tr><td><p>2012/13</p></td><td><p>£20 million</p></td></tr><tr><td><p>2013/14</p></td><td><p>£40 million</p></td></tr><tr><td><p>2014/15</p></td><td><p>£40 million</p></td></tr><tr><td><p>2015/16</p></td><td><p>£80 million</p></td></tr><tr><td><p>2016/17</p></td><td><p>£110 million</p></td></tr><tr><td><p>2017/18</p></td><td><p>£120 million[1]</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>Numbers provided for tax collected may be subject to significant change over time as in some cases pension providers can claim back tax paid. For example, this can occur where an individual has protections above the current Lifetime Allowance, or where not all of the payment would have been subject to the Lifetime Allowance.</p><p> </p><p>HMRC does not have estimates for future payments of LTA charges for 2018-19, 2019-20 or 2020-21. Any tax received from LTA charges forms a part of the overall Income Tax forecast.</p><p> </p><p>[1] Please note the 2017/18 tax year runs until April 2018, and so further tax charges could come through for this year which are not reflected in the above tables. The number provided represents a <em>year-to-date </em>figure.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/03/2018 14:11:18 answering member 4051 label Biography information for John Glen
	tabling member	4589 label Biography information for Robert Courts