Advisers with small self-administered schemes (SSAS) on their books are being offered a free review by specialist provider Talbot and Muir.
The provider said such schemes face "increasingly onerous" regulatory and legislative requirements. The move follows a similar warning from Rowanmoor which urged advisers to review their SSAS schemes to make sure they are compliant with HM Revenue & Customs (HMRC) rules. Talbot and Muir explained that while SSAS are not regulated by the Financial Conduct Authority they must fulfil obligations laid down by HMRC and The Pensions Regulator. It said non-compliance could result in large fines and possible de-registration of the scheme. Scheme administrators also need to meet the HMRC ‘F...
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