HMRC

Proposals to extend the transitional protection rules to prevent people losing either life cover or enhanced protection have been revealed by HM Revenue & Customs (HMRC).

Draft regulations for the protection of tax free cash and earlier retirement ages when a scheme winds up have been slightly extended and reissued by Her Majesty's Revenue and Customs (HMRC).

Her Majesty's Revenue and Customs (HMRC) has issued additional guidance on rules relating to employer contributions to pension schemes.

UK residents are being warned they could be caught up - rightly or wrongly - in a tax avoidance net cast by Portugese authorities, who may be working with their UK colleagues.

Industry officials say a contributory factor to the Treasury's withdrawal of tax relief on residential property in sipps could be because launch of the computer system to monitor such investments was at least six months behind schedule.

Following requests from the pensions industry, HM Revenue and Customs (HMRC) has published the Registered Pension Schemes Manual (RPSM) online in PDF format.

HM Revenue and Customers (HMRC) has delayed the requirement for online scheme reporting for six months after A-Day as the full service will not be completely operational until 2007.

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.