HMRC

Hopes that HM Treasury may soften the charges around Alternatively Secured Pensions (ASP) have been boosted by evidence included in a Treasury Select Committee report.

HMRC has confirmed medical reports requested by insurers for protection applications will remain exempt from VAT, saving insurers and consumers approximately £100m a year.

HM Revenue & Customs has announced both income tax and National Insurance contributions will apply to inducements offered to employees to encourage them to transfer out of a defined benefit occupational pension scheme.

Advisers should be aware consolidating occupational schemes into another personal pension contract could lead to a loss of tax-free cash for their clients, says Standard Life.

HM Revenue & Customs has admitted some of the schemes listed on its site as recognised cross-border pension schemes may still not allow transfers from the UK.

Changes to EU money laundering rules are likely to mean advisers will have to check the identity of trust beneficiaries before the trust can be set up, it is understood.

Research published by HM Revenue & Customs on trusts suggests last year's Inheritance Tax changes were unnecessary, says Scottish Life International.

HM Revenue & Customs has confirmed updated guidance on employer contributions should be published within the next four weeks.

HM Revenue & Customs has denied a decision by the Special Commissioners has changed the way HMRC calculates whether a non-UK resident should pay tax.

Advisers with clients who have Retirement Annuity Contracts have one last chance to take advantage of the carry back rules, warns Clerical Medical.