Source · Select Committees · Public Accounts Committee
Twelfth Report: Management of tax reliefs
Public Accounts Committee
HC 379
Published 20 July 2020
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Twelfth report from Session 2019-21 · published 25 Mar 2021
Recommendations & Conclusions
10
Conclusion
Rejected
Tax reliefs on pensions contributions, designed to encourage people to save for their own personal...
Conclusion
Tax reliefs on pensions contributions, designed to encourage people to save for their own personal pensions, are among the largest tax reliefs. HMRC forecast that the gross cost of these reliefs totalled £38 billion in 2018–19.18 We were concerned by …
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Government Response Summary
The government disagrees with the Committee's concerns regarding pension tax relief, citing previous consultations, and states it is not the right time for a formal evaluation, though it will continue to engage with stakeholders.
HM Treasury
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11
Recommendation
Rejected
We asked how the exchequer departments could be sure of the impact that pension tax...
Recommendation
We asked how the exchequer departments could be sure of the impact that pension tax reliefs were having if they had not evaluated them. HMRC asserted that pension reliefs had been subject to extensive evaluative attention, with “virtually no stone …
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Government Response Summary
The government rejects the recommendation for a full external evaluation of pension tax relief, citing previous consultations and ongoing stakeholder engagement, and stating it is not the right time for a formal evaluation.
HM Treasury
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