Income Tax: Overpayments

Treasury written question – answered on 20th May 2008.

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Photo of Jeremy Wright Jeremy Wright Opposition Whip (Commons)

To ask the Chancellor of the Exchequer what funds arising from the overpayments of income tax on the part of pension funds HM Customs and Revenue held at the latest date for which figures are available.

Photo of Jane Kennedy Jane Kennedy Financial Secretary, HM Treasury

holding answer 23 April 2008

In 2007-08 HMRC repaid a total of £2.2 billion to registered pension schemes. This was in respect of tax relief at source relating to contributions made to pension schemes and certain tax on investment income received by schemes. Such repayments are claimed routinely by pension scheme trustees and administrators and are made to pension schemes on a regular basis by HMRC.

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