XPS Self Invested Personal Pension Plan (CAS-42227-Z3Y8)
Equiniti Paymaster
Ombudsman’s Determination
Outcome
I do not uphold Mr E’s complaint and no further action is required by Xafinity and Equiniti.
Complaint summary
Mr E complained that Xafinity and its former payroll provider, Equiniti, did not consider his “adjusted net income”. As a result, they miscalculated the tax due on the income he drew from the SIPP.
Mr E also said that he underpaid income tax during the 2016/2017, 2017/2018, and 2018/2019 tax years, which he subsequently had to pay using his savings and “trading losses” on his business.
View determination
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