CA editor’s sal sac loophole story wins press award

Corporate Adviser editor John Greenwood’s article on the potential £24bn tax loophole in the pension freedom and choice policy was named Trade Article of the Year at the awards on Wednesday.

Greenwood’s article ”Tax-free cash at risk as Osborne’s flagship pension freedom agenda opens £24bn loophole” scooped the top trade prize at the awards event in London, which were judged by a panel of industry experts and product providers.

The article highlights the massive potential National Insurance and income tax losses if everyone over 55 diverts salary through pension. A poll of Corporate Adviser Summit delegates predicted at least 10 per cent of avoidable tax and NI could be lost to the Treasury, totalling more than £2bn.

Greenwood later presented evidence referred to in the story to the Pension Schemes Bill committee in the House of Commons. chief executive Karen Barrett said: “For 11 years now our Media Awards have let us acknowledge and showcase the brilliant work of individual advisers and journalists, as they promote the benefits of professional advice.

“With the government’s guidance guarantee now imminent, it is more important than ever for us to continue our work in helping consumers access the financial expertise they need. We wouldn’t be able to do so without the unwavering support of our media advisers, who are there on the front line building awareness among consumers, and the journalists who bring these often tricky subjects to life for their readers.

“Although each category was closely contested, this year’s winners really have been outstanding ambassadors for the consumer campaign. I would also like to say a big thank you to our sponsors, judges, media advisers and journalists who continue to support these awards.”