Jessica List, Pensions Technical Manager at Curtis Banks, comments on the latest parliamentary research briefing on the reform of pension tax relief.
“The briefing shows that in 2019/20, people with incomes above £50,000 were still receiving a disproportionate amount of the total tax relief paid on pension contributions.
“The data compares the number of tax payers with the amount of tax relief they received, rather than the proportion of tax paid by those individuals to the amount of tax relief received, which arguably would give a better picture.
“However, these figures may still seem surprising, given that they come from three years after the tapered annual allowance was introduced to reduce the share of tax relief going to higher earners.”
