HMRC

A draft Statutory Instrument for option three in the Treasury's consultation paper on the regulation of Self invested personal pensions has been published on the HM Revenue & Customs website almost two months before the end of the consultation period....

The situation concerning tax-free cash and transfers of pensions after A-Day appears to have been resolved by HM Revenue & Customs after representations from pension and life companies.

The government has altered earlier proposals to introduce a ‘with-profits tax' on reserve funds in a move which eill leave listed life insurance companies with tax bills worth hundreds of millions of pounds.

HM Revenue & Customs says it is aware of interest in setting up pensions arrangements intended to increase the value of an individual's pension rights at 6 April 2006, or rights in relevant schemes in an 'artificial' manner.

A pensions expert has called for industry to lobby against the intention of the HM Revenue & Customs (HMRC) to tax all transfer lump sum death benefit (TLSDB).

HM Revenue & Customs (HMRC) has published a discussion paper aiming to gain consensus on the application of the Inheritance Tax (IHT) law where it relates to new situations within the new simplification regime.

Tax burdens will be lightened and tax may even be returned by HM Revenue & Customs after a review of its previous stance on VAT affecting cases of landlord-tenant contracts.

Law firm DLA Piper Rudnick Gray Cary is urging taxpayers to register their views through a consultation currently under way into the powers, deterrents and safeguards of HM Revenue and Customs, which was formed this year.

The Inland Revenue and HM Customs and Excise have jointly launched a consultation to reform the departments' powers and tax collection processes which it hopes will lead to taxpayers complying with rules voluntarily.