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1661506
unstar this property registered interest false remove filter
star this property date less than 2023-09-18more like thismore than 2023-09-18
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask His Majesty's Government what the total amount of tax relief on all pensions was for the last five years. more like this
star this property tabling member printed
Lord Field of Birkenhead more like this
star this property uin HL10229 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2023-10-02more like thismore than 2023-10-02
star this property answer text <p>Information on estimates of Income Tax relief on pension contributions and investment income of pension funds can be found online in Table 6 of the Private pension statistics publication. Estimates for the tax years 2018 to 2019 to 2020 to 2021 have been reproduced in Table 1 below.</p><p><strong> </strong></p><p><strong>Table 1: Total pension Income Tax relief for tax years 2018 to 2019 to 2020 to 2021.</strong></p><table><tbody><tr><td><p><strong>Tax year</strong></p></td><td><p><strong>Total pension Income Tax relief, £million</strong></p></td></tr><tr><td><p>2020 to 2021</p></td><td><p>44,100</p></td></tr><tr><td><p>2019 to 2020</p></td><td><p>41,700</p></td></tr><tr><td><p>2018 to 2019*</p></td><td><p>38,200</p></td></tr></tbody></table><p> </p><p>*Improvements in the estimation methodology for the tax years 2019 to 2020 onwards mean that estimates for the tax year 2018 to 2019 are not directly comparable to those in later years.</p><p> </p><p>Estimates for the 2021 to 2022 tax year will be published on 27<sup>th</sup> September 2023. Estimates for the 2022 to 2023 tax year will be published in Summer 2024.</p><p> </p><p>HMRC does not hold complete information on whether contributions have been made to personal or occupational pension schemes.</p><p> </p><p>Information on the National Employment Savings Trust is exempt from release by HMRC under the Commissioners for Revenue and Customs Act 2005 (CRCA).</p>
star this property answering member printed Baroness Penn more like this
star this property grouped question UIN HL10230 more like this
star this property question first answered
less than 2023-10-02T15:00:48.7Zmore like thismore than 2023-10-02T15:00:48.7Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
star this property tabling member
478
star this property label Biography information for Lord Field of Birkenhead more like this
1661507
unstar this property registered interest false remove filter
star this property date less than 2023-09-18more like thismore than 2023-09-18
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask His Majesty's Government how much tax revenue is foregone each year in supporting (1) company, (2) private, and (3) National Employment Savings Trust pensions. more like this
star this property tabling member printed
Lord Field of Birkenhead more like this
star this property uin HL10230 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2023-10-02more like thismore than 2023-10-02
star this property answer text <p>Information on estimates of Income Tax relief on pension contributions and investment income of pension funds can be found online in Table 6 of the Private pension statistics publication. Estimates for the tax years 2018 to 2019 to 2020 to 2021 have been reproduced in Table 1 below.</p><p><strong> </strong></p><p><strong>Table 1: Total pension Income Tax relief for tax years 2018 to 2019 to 2020 to 2021.</strong></p><table><tbody><tr><td><p><strong>Tax year</strong></p></td><td><p><strong>Total pension Income Tax relief, £million</strong></p></td></tr><tr><td><p>2020 to 2021</p></td><td><p>44,100</p></td></tr><tr><td><p>2019 to 2020</p></td><td><p>41,700</p></td></tr><tr><td><p>2018 to 2019*</p></td><td><p>38,200</p></td></tr></tbody></table><p> </p><p>*Improvements in the estimation methodology for the tax years 2019 to 2020 onwards mean that estimates for the tax year 2018 to 2019 are not directly comparable to those in later years.</p><p> </p><p>Estimates for the 2021 to 2022 tax year will be published on 27<sup>th</sup> September 2023. Estimates for the 2022 to 2023 tax year will be published in Summer 2024.</p><p> </p><p>HMRC does not hold complete information on whether contributions have been made to personal or occupational pension schemes.</p><p> </p><p>Information on the National Employment Savings Trust is exempt from release by HMRC under the Commissioners for Revenue and Customs Act 2005 (CRCA).</p>
star this property answering member printed Baroness Penn more like this
star this property grouped question UIN HL10229 more like this
star this property question first answered
less than 2023-10-02T15:00:48.76Zmore like thismore than 2023-10-02T15:00:48.76Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
star this property tabling member
478
star this property label Biography information for Lord Field of Birkenhead more like this
1648319
unstar this property registered interest false remove filter
star this property date less than 2023-06-27more like thismore than 2023-06-27
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask His Majesty's Government how much (1) gross tax relief, and (2) National Insurance relief, was given to (a) Defined Benefit or hybrid pension scheme employers, (b) Defined Benefit or hybrid pension scheme members, (c) Defined Contribution workplace scheme employers, (d) Defined Contribution pension scheme auto-enrolment members, and (e) other Defined Contribution pension scheme members, in each of the past three years. more like this
star this property tabling member printed
Baroness Altmann more like this
star this property uin HL8804 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2023-07-07more like thismore than 2023-07-07
star this property answer text <p>Estimates of the cost of Income Tax and National Insurance Contribution relief on total pension contributions made in 2020 to 2021 can be found in Tables 1 and 2 below. Figures are provided in millions and rounded to the nearest hundred million pounds. Hybrid defined contribution and defined benefit schemes are counted as defined benefit schemes for the purpose of this analysis.</p><p>HMRC do not publish estimates of total pension contributions.</p><table><tbody><tr><td colspan="3"><p><strong>Table 1: Income Tax relief on pension contributions in 2020 to 2021 by type of contribution, £million</strong></p></td></tr><tr><td><p><strong>Income Tax relief in 2020 to 2021 [provisional] on:</strong></p></td><td><p><strong>Defined benefit scheme</strong></p></td><td><p><strong>Defined contribution scheme</strong></p></td></tr><tr><td><p>Individual contributions to net pay arrangements</p></td><td><p>3,600</p></td><td><p>900</p></td></tr><tr><td><p>Individual contributions to relief at source schemes</p></td><td><p>0</p></td><td><p>4,900</p></td></tr><tr><td><p>Salary sacrificed contributions</p></td><td><p>1,100</p></td><td><p>3,600</p></td></tr><tr><td><p>Employer contributions to net pay arrangements</p></td><td><p>16,800*</p></td><td><p>4,100</p></td></tr><tr><td><p>Employer contributions to relief at source schemes</p></td><td><p>0</p></td><td><p>5,900*</p></td></tr></tbody></table><p> </p><table><tbody><tr><td colspan="3"><p><strong>Table 2: National Insurance Contribution (NIC) relief on pension contributions in 2020 to 2021 by type of contribution, £million</strong></p></td></tr><tr><td><p><strong>NIC relief in 2020 to 2021 [provisional] on:</strong></p></td><td><p><strong>Defined benefit scheme</strong></p></td><td><p><strong>Defined contribution scheme</strong></p></td></tr><tr><td><p>Class 1 Primary (employee) NIC relief on employer contributions to net pay arrangements</p></td><td><p>4,900*</p></td><td><p>1,000</p></td></tr><tr><td><p>Class 1 Primary (employee) NIC relief on employer contributions to relief at source schemes</p></td><td><p>0</p></td><td><p>1,500*</p></td></tr><tr><td><p>Class 1 Primary (employee) NIC relief on salary sacrificed contributions</p></td><td><p>300</p></td><td><p>800</p></td></tr><tr><td><p>Class 1 Secondary (employer) NIC relief on employer contributions to net pay arrangements</p></td><td><p>8,200*</p></td><td><p>1,800</p></td></tr><tr><td><p>Class 1 Secondary (employer) NIC relief on employer contributions to relief at source schemes</p></td><td><p>0</p></td><td><p>2,700*</p></td></tr><tr><td><p>Class 1 Secondary (employer) NIC relief on salary sacrificed contributions</p></td><td><p>500</p></td><td><p>1,500</p></td></tr></tbody></table><p> </p><p>*These figures contain forecasts rather than being entirely based on outturn data sources.</p><p> </p><p>Please note that the figures provided are estimates only.</p>
star this property answering member printed Baroness Penn more like this
star this property grouped question UIN HL8803 more like this
star this property question first answered
less than 2023-07-07T10:06:56.237Zmore like thismore than 2023-07-07T10:06:56.237Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
1308727
unstar this property registered interest false remove filter
star this property date less than 2021-04-13more like thismore than 2021-04-13
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government how many responses they received to the call for evidence on pensions tax relief administration published in July 2020; when they plan to publish the outcome; and what plans they have to carry out further consultation on the issue of low earners in net pay administration schemes who are paying 25 per cent more for their pensions than if their employer used a relief at source scheme. more like this
star this property tabling member printed
Baroness Altmann more like this
star this property uin HL14860 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2021-04-27more like thismore than 2021-04-27
star this property answer text <p>The Government recognises the different impacts of the two systems of paying pension tax relief on pension contributions for workers earning below the personal allowance. The Call for Evidence – in line with the Government’s manifesto commitment to undertake a comprehensive review of this issue – set out the Government’s views on proposals already put forward by stakeholders, invited further proposals, and sought views on the operation of the relief at source method of tax relief for pension contributions.</p><p> </p><p>The Call for Evidence is now closed. The Government is carefully analysing this issue and the responses received to understand what deliverable options for change may exist. These responses have raised technical points that we are continuing to explore with HMRC and others. The Government will respond to the Call for Evidence in due course.</p><p> </p> more like this
star this property answering member printed Lord Agnew of Oulton more like this
star this property question first answered
less than 2021-04-27T10:43:31.43Zmore like thismore than 2021-04-27T10:43:31.43Z
star this property answering member
4689
star this property label Biography information for Lord Agnew of Oulton more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
1278996
unstar this property registered interest false remove filter
star this property date less than 2021-01-20more like thismore than 2021-01-20
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government how many individuals who are enrolled on an approved pension scheme do not receive tax relief on their contributions. more like this
star this property tabling member printed
Lord Sikka more like this
star this property uin HL12385 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2021-02-03more like thismore than 2021-02-03
star this property answer text <p>HMRC estimates that 1.3m individuals earning below the personal allowance in 2017-18 made workplace pension contributions via Real Time Information (RTI) using relief at source arrangements. The personal allowance in 2017-18 was £11,500.</p><p> </p><p>HMRC’s Survey of Personal Income (SPI) and administrative data was used to produce the estimates. The 2017-18 SPI data (published in March 2020) is the latest year available.</p> more like this
star this property answering member printed Lord Agnew of Oulton more like this
star this property question first answered
less than 2021-02-03T15:33:55.343Zmore like thismore than 2021-02-03T15:33:55.343Z
star this property answering member
4689
star this property label Biography information for Lord Agnew of Oulton more like this
star this property tabling member
4885
star this property label Biography information for Lord Sikka more like this
1138559
unstar this property registered interest false remove filter
star this property date less than 2019-07-11more like thismore than 2019-07-11
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property 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. more like this
star this property tabling member printed
Baroness McIntosh of Pickering more like this
star this property uin HL17117 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-18more like thismore than 2019-07-18
star this property 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>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-07-18T11:12:10.21Zmore like thismore than 2019-07-18T11:12:10.21Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
384
star this property label Biography information for Baroness McIntosh of Pickering more like this
1064175
unstar this property registered interest false remove filter
star this property date less than 2019-02-19more like thismore than 2019-02-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property 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. more like this
star this property tabling member printed
Baroness Altmann more like this
star this property uin HL13822 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-03-05more like thismore than 2019-03-05
star this property 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> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2019-03-05T14:53:25.03Zmore like thismore than 2019-03-05T14:53:25.03Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
713677
unstar this property registered interest false remove filter
star this property date less than 2017-03-23more like thismore than 2017-03-23
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government what estimate they have made of the savings to HM Treasury in terms of tax relief which would be gained if the annual allowance for pension contributions were reduced from £40,000 a year to (a) £30,000 a year, (2) £25,000 a year, and (3) £20,000 a year. more like this
star this property tabling member printed
Baroness Altmann more like this
star this property uin HL6274 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2017-04-05more like thismore than 2017-04-05
star this property answer text <p>The impacts of reducing the Annual Allowance from £40,000 a year would depend upon a number of factors including earnings growth and behavioural response to the policy change.</p><p> </p><p>A costings note for the reduction of the Annual Allowance from £50,000 to £40,000 and the Lifetime Allowance from £1.5 million to £1.25 million was published at Autumn Statement 2012<sup><sup>[1]</sup></sup>.</p><p> </p><p>[1] This policy costings document was published alongside Autumn Statement 2012</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/221551/as2012_policy_costings.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/221551/as2012_policy_costings.pdf</a></p> more like this
star this property answering member printed Baroness Neville-Rolfe more like this
star this property question first answered
less than 2017-04-05T11:09:19.067Zmore like thismore than 2017-04-05T11:09:19.067Z
star this property answering member
4284
star this property label Biography information for Baroness Neville-Rolfe more like this
star this property attachment
1
unstar this property file name as2012_policy_costings.pdf more like this
star this property title policy costings more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
713678
unstar this property registered interest false remove filter
star this property date less than 2017-03-23more like thismore than 2017-03-23
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government what estimate they have made of the cost of restricting pensions tax relief to basic rate tax relief only. more like this
star this property tabling member printed
Baroness Altmann more like this
star this property uin HL6275 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2017-04-05more like thismore than 2017-04-05
star this property answer text <p>The cost of restricting pensions tax relief to basic rate tax relief only would depend on how any changes were implemented. The impacts on tax receipts would also be subject to behavioural effects.</p> more like this
star this property answering member printed Baroness Neville-Rolfe more like this
star this property question first answered
less than 2017-04-05T10:47:59.12Zmore like thismore than 2017-04-05T10:47:59.12Z
star this property answering member
4284
star this property label Biography information for Baroness Neville-Rolfe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
713680
unstar this property registered interest false remove filter
star this property date less than 2017-03-23more like thismore than 2017-03-23
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Pensions: Tax Allowances remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government what estimate they have made of the savings of (1) tax, and (2) National Insurance relief, of restricting the annual allowance for pension contributions in defined contribution pension schemes to £25,000 a year. more like this
star this property tabling member printed
Baroness Altmann more like this
star this property uin HL6277 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2017-04-05more like thismore than 2017-04-05
star this property answer text <p>The impacts of reducing the Annual Allowance from £40,000 a year would depend upon a number of factors including earnings growth and behavioural response to the policy change.</p><p> </p><p>A costings note for the reduction of the Annual Allowance from £50,000 to £40,000 and the Lifetime Allowance from £1.5 million to £1.25 million was published at Autumn Statement 2012<sup><sup>[1]</sup></sup>.</p><p> </p><p>[1] This policy costings document was published alongside Autumn Statement 2012</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/221551/as2012_policy_costings.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/221551/as2012_policy_costings.pdf</a></p> more like this
star this property answering member printed Baroness Neville-Rolfe more like this
star this property question first answered
less than 2017-04-05T11:09:30.93Zmore like thismore than 2017-04-05T11:09:30.93Z
star this property answering member
4284
star this property label Biography information for Baroness Neville-Rolfe more like this
star this property attachment
1
unstar this property file name as2012_policy_costings.pdf more like this
star this property title policy costings more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this