HMRC

HM Revenue & Customs has unveiled plans for an offshore ‘amnesty' which could affect over one million people and bring in around £5bn for the Treasury in unpaid taxes.

From October pension schemes will have to file certain information electronically, as HM Revenue & Customs says it will reject any paper returns received after the deadline.

A test case decision by HM Revenue & Customs' Special Commissioners could mean the use of nil rate band discretionary trusts to avoid Inheritance Tax is under threat, claims MacIntyre Hudson.

A-day has been part of my life for the last five years. I have been involved with its development, from its original launch in the Green Paper in December 2002 (Simplifying the taxation of pensions: increasing of choice and flexibility for all).

Enhancements to pension transfer values is a practice which has been warned against by the industry for a while, but have recent decisions by government bodies and departments to crack down on the practice actually killed it off?

Advisers should undertake "appropriate training" before starting to advise on Real Estate Investment Trusts, warns the Financial Services Authority.

Providers who have resigned as scheme administrators of pension schemes may not only be leaving members to "fend for themselves", but could be leaving IFAs open to compensation claims if things go wrong, warns Rowanmoor Pensions.

The removal of tax relief on pension term assurance policies removes the risk of people taking out life insurance policies which are unsuitable for their needs, claims HMRC.

The Isle of Man Treasury is planning to remove the compulsory annuitisation of pension schemes, under its proposals for 'pensions simplification', because there are now fewer annuity providers on the island.

HM Revenue & Customs has provided written confirmation that gifts put into absolute or bare trusts for minors will avoid tax charges by being classified as Potentially Exempt Transfers rather than Chargeable Lifetime Transfers.