We are expecting developments on a number of issues over the next couple of months:
- RPI/CPI switch. It is hoped that more detail will emerge as to how certain issues can be resolved.
- High earner tax. The Treasury is due to confirm its intended approach to high earner tax in early October, with a view to publishing draft legislation "in the Autumn". The Government has consulted on, amongst other things, reducing the annual allowance to around £30,000 to £40,000, and changing the way defined benefit contributions are valued for the purposes of the annual and lifetime allowances.
- Auto-enrolment review. The outcome of this review into various key tenets of the proposed auto-enrolment regime (including the earnings thresholds above which employees are to be auto-enrolled, the structure of NEST and the form in which it is established) is thought to be due for publication in early November.
- Regulator consultations on employer covenant issues and employer "departures" guidance. Both of these consultations closed in September.