Pension tax relief explained as Rishi Sunak denies evaluation – HMRC under fire | Personal Finance | Finance


The pension tax relief rules were criticised by the Public Accounts Committee earlier on in the year.

The committee called on HMRC to establish and publish the criteria it will use to determine which reliefs to evaluate within three months (by October) and within 12 months, have evaluated the impact of pension tax reliefs.

This week, the government released its official response to this request and unveiled that it will not be making changes or revaluating the rules for the time being.

In its initial findings, the Public Accounts Committee had the following to say: “Tax reliefs have an enormous impact on tax revenue but it is far from clear whether they deliver the economic and social objectives many are supposed to support. The full cost of tax reliefs that support government’s economic and social objectives is not known and could exceed £159billion a year.

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