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HMRC figures for £150,000 pay band reinstated

HMRC has reinstated information showing the number of people in the earnings’ band affected by pension tax relief changes after it disappeared from the website following the Budget announcement.

Historically, HMRC’s income tax liabilities by income range table has shown the number of people earning more than £150,000 a year and how much tax they pay.

But around the time of the Budget, the £150,000 a year band disappeared from the table. The omission made it difficult to determine how many people will be affected by the plans to restrict pensions tax relief and the 50 per cent income tax rate. It also made it harder to work out how much of the total income tax take these people contribute.

After pressure from Money Marketing, the £150,000 a year category has been reinstated.

Hargreaves Lansdown pensions analyst Laith Khalaf says: “While the Government justifies a certain pension policy by telling us that high-earners get a quarter of all tax relief, the figures that tell us those same taxpayers actually pay a quarter of the income tax take drop off the HMRC website. Is that a coincidence?”

An HMRC spokeswoman says: “There was an inadvertent error in the coding when the data was originally extracted. When we realised this, our statisticians extracted a new load of data. This has now been published.”


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