Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of the additional annual cost to the public purse resulting from the extension of seafarers' earnings deduction to all EU and European Economic Area seafarers in 2011.
Budget 2010 published the estimated annual Exchequer cost of £5million resulting from the extension of Seafarers’ Earnings Deduction (SED) to EU and European Economic Area seafarers from 2011.
HMRC publishes the estimated cost of SED each December. This can be found at:https://www.gov.uk/search?q=main+tax+expenditures+and+structural+reliefs
For the majority of claimants the SED reduces their income tax liability to zero.