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In January 2012 the taxpayer a consultant in the NHS obtained a fixed protection 2012 (FP2012) certificate in respect of the pension lifetime allowance. A condition of FP2012 is that the individual must have ceased to make any contributions and have no benefit accrual on or after 6 April 2012.
He opted out of the NHS pension scheme with effect from 1 February 2013 and then rejoined it on 1 March 2013. He opted out for the final time on 15 August 2013 with effect from 1 September 2013. His pensionable pay increased with effect from 1 April 2013.
HMRC said this was an increase in the taxpayer’s final year’s pensionable pay which exceeded the relevant percentage threshold resulting in a loss of FP2012.
The taxpayer appealed.
The dispute hinged on the meaning of ‘year’ in the statutory words ‘the member’s last year of pensionable employment’....
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