Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1130525

registered interest
date	06/06/2019
answering body	Department of Health and Social Care
answering dept id	17
answering dept short name	Health and Social Care
answering dept sort name	Health and Social Care
hansard heading	Doctors: Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Health and Social Care, what assessment his Department has conducted of the effect of the tapered annual pension tax allowance on the retention of doctors in the NHS.
tabling member constituency	Central Ayrshire
tabling member printed	Dr Philippa Whitford
uin	261238
answer	answer is ministerial correction date of answer 11/06/2019 answer text <p>The 2015 NHS Pension Scheme is a generous and valuable part of staff reward packages and remains one of the best schemes available. Its introduction ensures that National Health Service staff receive financial security in retirement, and that the scheme is affordable to the taxpayer.</p><p>The Government recognises that NHS doctors have raised concerns about pension tax charges being a factor in their decisions to retire early or limit their NHS commitments.</p><p>We are listening to concerns raised that the tapered annual allowance is affecting the retention of doctors in the NHS. The Government is prepared to take action and will bring forward a public consultation on targeted proposals to make NHS pensions more flexible for senior clinicians by allowing them a 50% reduction in pension contributions for half the pension accrual.</p><p>The British Medical Association’s view this proposal as a step in the right direction. The Department will listen carefully during consultation to reach a final proposition that works for both staff and taxpayers. The consultation gives an opportunity for groups and individuals to put forward their views.</p><p>Additionally, the scope of the voluntary ‘Scheme Pays’ facility, implemented by the NHS Pension Scheme to allow scheme members to pay annual allowance charges from the value of their pension benefits rather than upfront, has been extended to cover the payment of tax charges from breaches of the tapered annual allowance. The Government keeps the impact of public sector pay and pensions policies under constant review.</p> answering member constituency Wimbledon answering member printed Stephen Hammond question first answered 11/06/2019 15:46:09 answering member 1585 label Biography information for Stephen Hammond
tabling member	4385 label Biography information for Dr Philippa Whitford

1130526

registered interest
date	06/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of how often the annual tapered allowance results in a person being taxed more than 100 per cent of the pensions relief they would have received if they had not reached the allowance limit.
tabling member constituency	Central Ayrshire
tabling member printed	Dr Philippa Whitford
uin	261239
answer	answer is ministerial correction date of answer 11/06/2019 answer text <p>Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2016/17 income tax and employer National Insurance Contributions relief cost over £50 billion, with around two-thirds going to higher and additional rate taxpayers.</p><p>The tapered annual allowance is therefore focussed on the highest-earning savers, to ensure that the benefit they receive is not disproportionate to that of other pension savers. Less than one per cent of pension savers will have to reduce their saving or face an annual allowance charge as a result of the tapered annual allowance.</p><p> </p><p>For those who incur annual allowance tax charges, the charge recoups the excess tax relief on the benefits that they have accrued in that year above their annual allowance. The charge is levied at an individual’s marginal rate. For example, an individual with a salary above £150,000 would be taxed at 45% on pension accrual above their annual allowance.</p><p> </p><p>It is not possible to estimate the precise effects of the tapered annual allowance on an individual’s total remuneration without knowing their specific circumstances.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 261240 question first answered 11/06/2019 13:41:45 answering member 4051 label Biography information for John Glen
tabling member	4385 label Biography information for Dr Philippa Whitford

1130527

registered interest
date	06/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of how often the annual tapered allowance results in a person being taxed more than 100 per cent of the earnings gained from additional sessions or responsibilities.
tabling member constituency	Central Ayrshire
tabling member printed	Dr Philippa Whitford
uin	261240
answer	answer is ministerial correction date of answer 11/06/2019 answer text <p>Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2016/17 income tax and employer National Insurance Contributions relief cost over £50 billion, with around two-thirds going to higher and additional rate taxpayers.</p><p>The tapered annual allowance is therefore focussed on the highest-earning savers, to ensure that the benefit they receive is not disproportionate to that of other pension savers. Less than one per cent of pension savers will have to reduce their saving or face an annual allowance charge as a result of the tapered annual allowance.</p><p> </p><p>For those who incur annual allowance tax charges, the charge recoups the excess tax relief on the benefits that they have accrued in that year above their annual allowance. The charge is levied at an individual’s marginal rate. For example, an individual with a salary above £150,000 would be taxed at 45% on pension accrual above their annual allowance.</p><p> </p><p>It is not possible to estimate the precise effects of the tapered annual allowance on an individual’s total remuneration without knowing their specific circumstances.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 261239 question first answered 11/06/2019 13:41:45 answering member 4051 label Biography information for John Glen
tabling member	4385 label Biography information for Dr Philippa Whitford