Advisers urged to review 'rudderless' SSAS over liberation fears

HMRC introduced a new ‘fit and proper' test in April 2015 in an attempt to ensure SSAS pensions were not being used for pension liberation purposes. Additional reporting requirements have also been placed on SSAS pensions. Administrators must make timely information returns to HMRC, provide information to members to enable them to meet their own tax obligations and pay any tax charges due. Rowanmoor Group said it is vital that advisers properly monitor any SSAS business they are involved with to ensure the schemes are properly supported and remain compliant. Further reading: Ro...