HMRC

HM Revenue & Customs (HMRC) has announced it considers withdrawals taken from unsecured pensions (USP) or alternatively secured pensions (ASP) as income for inheritance tax (IHT) purposes.

The Government is seeking the advice of the FSA after the loss by HMRC of computer discs containing the confidential details of 25 million people.

Paul Gray, chairman of HM Revenue and Customs (HMRC) has resigned today following a "substantial operational failure".

Her Majesty's Revenue and Customs (HMRC) is set to launch a second offshore amnesty after overestimating the amount it would recover from its first tax reprieve scheme, according to Grant Thornton.

Just over three quarters of potential UK investors (18.75 million) are not benefiting from tax relief on a personal pension which could boost their savings by £5.5bn per annum.

People with UK tax returns can also take advantage of the amnesty issued by HM Revenue & Customs and avoid hefty penalties, according to financial planning firm Barnett Ravenscroft.

Advisory firm Montfort International has attacked some Australian financial advisers and pension funds for using "scare tactics" to encourage pension transfers from the UK ahead of the changes to the Australian system on 1 July.

HM Revenue & Customs has confirmed it will make changes to current legislation to allow Australian schemes to continue to be included as Qualified Recognised Overseas Pension Schemes (QROPS) where appropriate.

HM Revenue & Customs guidance on how new anti-avoidance rules for individuals and trustees will apply is "questionable" says Grant Thornton.

Advisers should be aware trusts can be used to minimise the effects of IHT through a ‘dripfeed' approach as well as large one-off gifts, Standard Life says.