How Much Do HMRC Tax Breaks Cost

Published / Last Updated on 29/10/2019

Predicting Tax Hikes With Costs to HMRC for Tax Breaks

Estimated Relief Costs to HMRC 2019/20 see HMRC Tax Relief Costs Bulletin 2019

  • Personal allowance - costs £bn 113.00
  • NICs - secondary threshold - costs £bn 31.50
  • NICs - primary threshold - costs £bn 27.40
  • Main residence CGT exemption - costs £bn 26.50
  • Pensions income tax reliefs - costs £bn 21.20
  • NICs - Employer pension contributions - costs £bn 18.70
  • Capital Allowances - Income/corporation tax - costs £bn 17.12
  • Inheritance tax - nil rate band - costs £bn 13.00
  • NICs - effective discount for self-employed - costs £bn 5.60
  • Corporation tax - double taxation relief - costs £bn 4.54
  • Annual Investment Allowance - costs £bn 4.00
  • Income/corporation tax exemption for non-resident gilt owners - costs £bn 3.80
  • ISAs - costs £bn 3.30
  • R&D relief small companies - costs £bn 2.46
  • NICs - lower profit threshold - costs £bn 2.44
  • R&D relief: large cos and RDEC - costs £bn 2.33
  • Income tax and CGT - double taxation relief - costs £bn 2.20
  • NICs - Employment Allowance - costs £bn 2.20
  • Entrepreneurs' relief - costs £bn 2.10

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