Pensions - Articles - Now Pensions signs letter to Chancellor on net pay anomaly

NOW: Pensions’ CEO Troy Clutterbuck has signed a letter to the Chancellor pushing for urgent action on the net pay anomaly in the forthcoming Budget.

 Other signatories include:

 Caroline Abrahams, Charity Director, Age UK
 Baroness Ros Altmann, Chair, pensionsync
 David Dalton-Brown, Director General, Tax Incentivised Savings Association (TISA)
 Anne Fairpo, Chair, Low Incomes Tax Reform Group of the Chartered Institute of Taxation
 Helen Hargreaves, Associate Director of Policy, Chartered Institute of Payroll Professionals (CIPP)
 Paul Nowak, Deputy General Secretary, Trades Union Congress (TUC)
 Nigel Peaple, Director of Policy and Research, Pensions and Lifetime Savings Association (PLSA)
 Henry Tapper, First Actuarial and Pension PlayPen
 Steve Webb, Director of Policy, Royal London

 Troy Clutterbuck, CEO of NOW: Pensions said: “Through no fault of their own, lower paid workers in net pay schemes are missing out on the tax relief they would receive if they were in a relief at source scheme. Figures from HMRC suggest that this could be affecting more than a million people, the majority of whom are women, and this number is only going to grow.

 “We are pushing for action on this now as we know that HMRC are looking at solutions to solve an issue that has arisen in relief at source schemes as a result of devolved taxation. We firmly believe that the government should make sure that any system changes they make also put things right for these workers.”

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