by Gail Higgins | Jan 9, 2015 | Uncategorized
Following European Court decisions in two separate cases last year, and a consequent review of its treatment of VAT on services provided to pension schemes, HMRC has now announced changes to its position. In summary: in relation to defined benefit (DB) schemes, HMRC...
by Gail Higgins | Dec 5, 2014 | Uncategorized
Under current law, if an individual has accessed his pension through drawdown, rather than by purchasing an annuity, on his death the remaining fund may be passed to a beneficiary, subject to tax: at 55% if the funds are paid as a lump sum or at the recipient’s...
by Gail Higgins | Nov 14, 2014 | Uncategorized
The Government has consulted on draft regulations that introduce the charge cap and other governance measures for money purchase arrangements with effect from April 2015. Governance The governance arrangements will not apply to: Small Self-administered Schemes,...
by Gail Higgins | Oct 24, 2014 | Uncategorized
Following its consultation earlier this year on the calculation of levies for the three years commencing with the 2015/16 year, the PPF has now published its response to the consultation, including further detail on the quantum of next year’s levy. The earlier...
by Gail Higgins | Sep 19, 2014 | Uncategorized
Introduction FRS 102 becomes applicable for accounting periods starting on or after 1 January 2015. It (together with FRSs 100, 101 and 103) replaces all other existing FRSs and so will be the standard that covers how entities account for the cost of their pension...
