The Association of Consulting Actuaries has proposed a tax framework for residual pensions in response to a HM Revenue and Customs discussion paper on inheritance tax and pensions simplification.
Proposals are designed to express the group's frustration at the paper and what it called “the continual introduction of new regulation and guidance that is tarnishing the overriding principle of pension tax simplification”. The fundamental problem the ACA says it has relates to the inclusion of pension savings in relation to IHT as the ACA claims accumulation of capital within pension funds should be encouraged by the government, not discouraged, given most UK citizens are felt to be under rather than over-pensioned. ACA argues in an age of increasing longevity, the concept of a level ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes