HMRC 'looking at opportunities' to address net-pay tax anomaly

HM Revenue & Customs (HMRC) today (10 October) said it was exploring "opportunities" to address the difference of treatment when pensions tax relief rules are applied to savers in net-pay and relief-at-source schemes. Currently, savers whose earnings fall below the £11,850 personal tax threshold and are members of net-pay schemes, lose out on 20% tax relief which is automatically applied to savers in relief-at-source schemes. The issue, which is particularly hitting low-paid workers enrolled in pensions through automatic enrolment (AE), has been described as a "hidden scandal" with 14...