ALACE responds to draft guidance and regulations on “McCloud” rectification
ALACE has submitted a response to the HMRC consultation about the detailed regulations and guidance that relate to rectification of the problems caused by the pension reforms that gave rise to the Public Service Pensions and Judicial Offices Act 2022. This is an exceptionally complex area affecting pensions and taxation, but some past or present ALACE members are likely to have been affected by it. Among other things, we call for individuals not to have pay additional retrospective tax if, as a consequence of rectification, they receive additional retrospective payments.