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Pension Funds (Tax-Free Status)

Volume 978: debated on Monday 4 February 1980

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asked the Chancellor of the Exchequer how many pension funds are currently awaiting approval for tax-free status by the Inland Revenue; and what is the total value of those funds.

As at 31 December 1979, 128,000, of which probably about one half are arrangements for the benefit

Reference number and dateReference number in PCA's Quarterly ReportNature of complaintWhether upheld
C278/T August 1973HC42Delay in processing of claim for car tax refundApology by Department.
528/T March 1974HC170Refusal of meeting with Treasury Ministers.No.
453/T June 1974281Misleading information given by VAT Central Unit regarding Purchase Tax Rebate Scheme.No (but apology was made by FST in ministerial correspondence).
51/J June 1974281Accountants alleged that Customs had no statutory authority to require production of information and documents from client claiming not to be registrable for VAT purposes.No.
69/J October 197449Delay in tax repaymentYes.
200/J December 1974241Refusal to reimburse registered person with costs incurred because of delay in repayment of Purchase Tax/VAT.No.
203/J November 1974241(a) Rejection of Purchase Tax Rebate Scheme claim in respect of tax-paid stocks at inception of VAT.No comment by PCA: VAT Tribunal had dealt with appeal.
(b) Alleged official discrimination against trader.No.
511/J April 1975405Refusal to vary frequency or method of VAT repayments.No.
686/J July 1975529VAT liability of foreign-built yacht bought before, but imported after, the introduction of VAT.No (but owner was advised that Personal Reliefs Order 1970 might apply).
25/V July 1975529Refusal of tax relief following monetary loss through burglary.No.
452/V September 197537Delay in repayment of VAT on personal export.No (but ex gratia payment made).
749/V January 1976259Refusal to refund part of tax included in advance payment of TV rental, when VAT rate fell before due date.No.
469/V February 1976496Refusal to pay Purchase Tax Rebate to VAT-registered trader.No.
699/V August 197646Inadequate Departmental enquiry into complaint about officers investigating suspected VAT irregularities.No.
195/K December 1976223Tax arrears demanded in respect of VAT Returns completed with official advice and assistance.No.

of a single employee. In about 124,000 of these cases provisional relief will have been given to employees where appropriate. In the vast majority of cases—116,000—the Inland Revenue is waiting for further documentation, and so on, from the applicant with a view to giving final approval. No information is available on the value of these schemes.