Post A-day rules that limit the maximum income available from drawdown (unsecured income) have been altered.
Paymaster general Dawn Primarolo has confirmed there will be no retrospective taxation of pre-owned assets where an individual is still living in a property owned by other members of the family.
SIPP firm A J Bell has criticized the Inland Revenue's intention to impose minimum unsecured pension as a part of ‘back door' change to A-Day tax legislation.
It is currently unclear what action the Inland Revenue will take if you report a tax benefit regarding a SIPP before A-Day, the SIPP Provider Group warns.
THE INLAND Revenue's new powers to tax workers retrospectively without needing to go through the courts could leave thousands of taxpayers facing bills they did not know about, says the Daily Telegraph.
The Inland Revenue has renewed efforts to issue deficiency notices and update people on their entitlement to a full state pension through payment of National Insurance Contributions (NICs).
The Association of British Insurers is the latest industry group to hit out at the government's hidden plan to tax surplus assets of with-profits funds by 30%.
The Treasury has introduced a series of measures, effective from yesterday, which seek to shut down several tax avoidance problems.
New tax regulations are being introduced to encourage employers to increase the take-up of pension schemes within their workforces.
CONSERVATIVE and Liberal Democrat peers yesterday defeated the Government on key aspects of its Pensions Bill, says this morning's Daily Telegraph.