Treasury

The Treasury has indicated a National Pension Savings Scheme (NPSS) or alternative "could be useful" in helping the savings gap during discussions with the International Monetary Fund (IMF).

Tax specialists are revving up their best guesses ahead of this year's budget on the issue of the level of tax relief accorded venture capital trusts, even as a growing number are expected to close early because of high investor demand.

Industry members suggest inheritance tax (IHT) rules on pensions are unlikely to be revealed until the Budget, leaving advisers with just two weeks to get all the details in place.

The proposals in the Department for Work and Pensions' White Paper are likely to differ very little from the National Pensions Saving Scheme (NPSS) proposed by the Pensions Commission, IFAonline has learnt.

The Treasury has said there is no conflict between the Markets in Financial Instruments Directive (MiFID) and commission rebates, in contrast to concerns raised by the Association of Independent Financial Advisers (Aifa).

The Capital Tax Office and the Treasury are still unable to agree on how inheritance tax (IHT) will apply to pensions eight weeks before A-Day, IFAonline has learnt.

The Pep and Isa Managers' Association (PIMA) has asked the government to support transitional arrangements for the regulation of pensions, to allow consumers to take immediate advantage of A-Day flexibility.

A Treasury consultation on the regulation of sipps is scheduled to close next week, but pension expert John Lawson queries whether the Treasury will drop its plans following the U-turn on residential property and prohibited assets in self-invested pensions....

Jo Smith, consultant at Teamspirit, explains exactly what the pre-Budget report means for pensions ahead of A-Day as well as the implications and remedies now for both clients and intermediaries.

LLOYDS TSB said it would set aside an additional £300m provision this year to partially cover the cost of paying compensation for endowment mis-selling, reports the Times .