FINANCE UPDATES – Jan 2020 – High Earners & The Tapered Allowance
High earners will be familiar with the tapered annual allowance.
After all, it spent most of 2019 mired in controversy after medical professionals in England snubbed overtime shifts
amid fears of being clobbered with unexpectedly high tax bills.
In December 2018, the number of senior doctors and GPs
leaving the NHS pension scheme was five times higher
than from other public pension funds.
Prior to last month’s general election, ministers signed off a
temporary plan to cover the pension bills of senior physicians in
a bid to get them back to work and head off a potential winter crisis in
A&E departments up and down the country.
