Pensions tax relief set to cost government almost £40bn
(The Guardian Business News)

HMRC statistics show rising cost of subsidies, with higher-rate taxpayers claiming most Pensions tax relief will cost the government almost £40bn this year, up more than £2bn on the previous year, illustrating the growing cost of subsidising retirement saving.According to new statistics from HMRC, tax relief on employee pension saving is set to rise to £21.2bn while the tax giveaway on employer contributions to occupational pension schemes hit more than £18bn. Continue reading...