£41bn tax relief cost is 'no excuse' for Budget raid

HMRC figures revealed the cost of pensions tax relief increased by more than £4bn in 2019/20

Holly Roach
clock • 4 min read
The increase is largely due to the rise in AE minimum contributions

The increase is largely due to the rise in AE minimum contributions

The cost of pensions tax relief has increased by more than £4bn to £41.3bn, according to HM Revenue and Customs (HMRC).

HMRC figures - published yesterday (30 September) - revealed the ‘gross cost' of pensions tax relief hit £41.3bn in 2019/20, up from £38.2bn the year prior. The figures also showed that tax paid...

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