By Edie Bourne
Doctors are pinning hopes on Treasury indications that substantial tax reform will be announced in the Budget to alleviate punitive tax charges on their NHS pensions.
The outcome of the Government’s consultation into pension flexibilities and review of the tapered annual allowance is expected to be published in the Budget on 11 March. New tax relief rules would then be in place from the start of the next tax year in April.
A Treasury spokesperson said: ‘We want to make sure that doctors spend as much time as possible treating patients. That’s why we are urgently reviewing the pensions taper to ensure doctors aren’t turning down extra shifts for fear of high tax bills.’
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