On 22 September, the then secretary of state for Health & Social Care, Therese Coffey, announced the Government’s ‘Our plan for patients‘ policy paper, which set out to tackle some pressing issues facing the NHS today. Namely, the annual allowance misalignment of CPI figures.
The most eye-catching of which was ‘correcting pension rules regarding inflation’. The annual allowance is aimed at taxing growth in excess of inflation.
Currently, inflationary increases are contributing towards annual allowance tax charges.
