Tax and Fiscal Policy

HMRC should recognise that the Iceland saving scheme is not a deduction from pay


In the Media

Dr Richard Wellings appears on BBC Radio 5 Live

In the Media

Chris Snowdon comments in the Mail Online

Prof. Philip Booth comments in The Times

Prof. Philip Booth, Senior Academic Fellow at the Institute of Economic Affairs has commented in The Times today on the news that MPs are investigating why HMRC are threatening Iceland Foods with a £21million bill over a Christmas savings scheme.

In the article Philip argues that the savings scheme is not a deduction from pay but a decision by workers about how they choose to use their pay. On the same basis, is the government deducting workers’ contributions to its quasi-compulsory auto-enrolment pension as a deduction from pay rather than as a way of using pay to save for the future?

Read the full article here. (££)