Following many of the problems with collecting taxes and a general cost cutting review by the Government, not helped by the error in calculations by HMRC for some people within the PAYE system; a review is under way of the PAYE system (Pay As You Earn). A number of senior politicians and civil servants have been complaining about the out of date computer system that HMRC operate. One of the suggested options is that all PAYE is calculated by HMRC and gross payment details are sent to them by employers.
Anyway, long story shorter this has a knock on effect on NEST – the proposed automatic opt in pension scheme. It is suggested that as the two will inevitably tie-up this may result in further delays in launching NEST.
At this stage, if I were a betting man, I’d say that NEST probably won’t start until after the next UK election.
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