Revenue law reform could lead to hefty fine - Bee

His discovery follows the publication of the Finance Bill last Thursday, which outlines the finer details to the new pension simplification rules coming into force in April 2006. After his first reading of the Bill, Steve Bee, head of pensions strategy at Scottish Life, reveals people who opt for enhanced protection will be liable to fines if at any time before they reach age 75 they fail to notify the Revenue of any "relevant benefit accrual". The Revenue's latest pension simplification paper, published in December last year, says people will be able to choose between three different...