Provider warns on HMRC's 'sharpened' SSAS focus

Xafinity has called for urgent regulatory changes to mandate professional oversight as it said HM Revenue & Customs (HMRC) has sharpened its focus on the pension set-ups. It reported an increasing number of inquiries from SSAS trustees, and their advisers, where the SSAS has not been administered by a specialist pensions professional and has subsequently experienced serious administrative issues. These include fines for non-submission of the pension scheme returns; loans that have been made from the scheme without the required security; scheme owned properties that have rent arrears; ...