AUTOMATIC ENROLMENT Synopsis: Legislation published to remove the annual contribution limit and the transfer restrictions on NEST. The National Employment Savings Trust (Amendment) Order 2015 (2015/178) has been published removing the annual contribution limit and the transfer restrictions on NEST with effect from 1st April 2017. The National Employment Savings Trust (NEST) was set up alongside […]
PENSION REFORM 2014/15 Synopsis: The newly generous treatment of pension death benefits are prompting some creative ideas about the use of pensions in estate planning. Whether they could be applied in practice is open to question. Date posted: Friday, May 01, 2015 The changes to the tax treatment of pension scheme death benefits that came […]
SELF-ASSESSMENT Synopsis: The Upper Tax Tribunal has ruled that HMRC, contrary to their long-standing position, cannot refuse a taxpayer’s claim for a refund of overpaid tax, even if the claim is made more than four years after the end of the tax year concerned. In a significant reversal of HMRC policy, the Upper Tribunal has […]
FROM THE PAPERS Synopsis: Short summaries of articles we think you will find useful from some of the weekends broadsheets. At the end of each summary is a link to take you directly to the relevant article. Please see Helpful Hints at the end of the bulletin. Date posted: Monday, March 16, 2015 ARTICLES FINANCIAL […]
POTENTIAL PITFALLS OF PENSION PLANNING Synopsis: The current Judicial Pension Scheme is not a Registered Pension Scheme, however, the new one being introduced in April 2015 is. Date posted: Friday, February 27, 2015 The current Judicial Pension Scheme is not a Registered Pension Scheme, however, the new Judicial Pension Scheme 2015 being introduced on 1 […]
GUIDANCE GUARANTEE Synopsis: The Pension Wise website has gone live As part of the campaign to increase information on the April 2015 changes to pension flexibility, the Treasure have added a new information page on the .GOV website on what the changes mean to individuals. The information page also provides a link to the newly […]
Synopsis: Annual CPI inflation fell unexpectedly to a 12 year low of just 1.0% in November. Inflation on the CPI measure has stepped down by 0.3% to 1.0% in November. The November inflation numbers from the Office for National Statistics (ONS) more than reversed the previous month’s 0.1% increase and were well below market expectations of about […]
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TAX AVOIDANCE Synopsis: Over 50 jurisdictions have signed up to the automatic exchange of tax information and will be required to commit to an annual exchange of all financial information automatically on a reciprocal basis with all other participating countries. Date posted: Friday, November 07, 2014 The new OECD/G20 standard on automatic exchange of tax […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: The DWP has issued a consultation paper putting forward Governments proposals along with draft Regulations for consultation. Date posted: Wednesday, October 22, 2014 The DWP has issued a “Better workplace pensions: putting savers’ interests first” consultation paper putting forward Governments proposals along with draft Regulations for consultation. The consultation period will […]
