Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the total value of revenue forgone was of tax relief for personal pension contributions for (a) basic and (b) higher rate taxpayers in each of the last three financial years.
The estimated cost to the Exchequer from income tax relief on personal pension contributions can be found in HM Revenue and Customs’ National Statistics publication. The relevant information is available to view at: https://www.gov.uk/government/statistics/registered-pension-schemes-cost-of-tax-relief.
Estimates of the number of people making contributions into personal pensions, and the value of their contributions by different income levels, can be found in Table 3.8 at the following link:
https://www.gov.uk/government/statistics/deductions-and-reliefs-2010-to-2011.