Many small self-administered scheme (SSAS) arrangements risk failing to meet the administrative requirements of HM Revenue and Customs and TPR, Talbot and Muir has warned.
The SSAS and self-invested person pension (SIPP) specialist warned that clients of "many" SSAS arrangements were being charged high fees while receiving little or no service - a practice that risks failing to meet government and The Pensions Regulator's (TPR) administrative standards. As a result, it added, those SSAS schemes are in danger of incurring large fines, and possibly being de-registered. Talbot and Muir calls for industry standardisation Talbot and Muir director David Bonneywell said much of Talbot and Muir's growth has been driven by takeovers of poorly administered sch...
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