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Income Tax: Tax Thresholds

Volume 476: debated on Monday 2 June 2008

To ask the Chancellor of the Exchequer what estimate he has made of the likely additional cost to the public purse of higher rate tax relief for pension contributions arising from the proposed reduction in the threshold for higher rate tax. (207098)

[holding answer 22 May 2008]: Latest detailed estimates of the annual cost of tax relief on registered pension schemes are available in Table 7.9 on Her Majesty's Revenue and Customs website at:

http://www.hmrc.gov.uk/stats/Densions/menu.htm

Reducing the income level at which the higher rate applies by £600 will have no significant impact on the estimate of this relief.