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Savings and investments tax benefits reach over £30 billion

News Team, 29/07/2019

Tax benefits gained on savings and investments in the UK hit £30.2 billion last year (ended 31 March 2019), according to figures from HMRC.

This is a five percent increase from the £28.8 billion recorded for the previous year. However, tax benefits granted on investments had been growing at around 10 percent a year over the previous three years.

Financial advisory firm Salisbury House Wealth (SHW), suggested the slowdown in growth is due to the government restricting the benefits on pensions and cutting those on products such as the Enterprise Investment Scheme.

The value of tax benefits on pensions has also...


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