All Tax articles – Page 7
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News
Ex-chancellor calls for flat-rate pension tax relief
On the go: Former chancellor of the exchequer Sajid Javid has called for a flat-rate pension tax relief as part of a wide-ranging post-Covid recovery plan published by the Centre for Policy Studies.
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News
Widespread industry support for regulator’s Covid-19 response
On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.
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News
Change in direction for McClymont in surprise job move
In something of a shock move, Gregg McClymont, a former Labour shadow pensions minister, starts a new role at IFM Investors in July as its executive director of public affairs for Europe.
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News
United Biscuits awaits CJEU ruling in long-lasting VAT saga
On the go: The trustees of United Biscuits’ defined benefit pension scheme are waiting for a final ruling from the Court of Justice of the European Union, after the advocate general sided with HM Revenue & Customs on a long-lasting battle on value added tax.
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News
ABI revives call for flat rate pension tax relief
On the go: The Association of British Insurers has urged the government to simplify the pension tax relief system, arguing it worsens existing inequalities in its current form.
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News
Govt could scrap pensions triple lock to reduce virus debt
On the go: The pensions triple lock could be scrapped in the near future as the government looks to recoup the hundreds of billions of pounds it has spent on Covid-19 support.
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News
Govt extends scheme pays deadline for NHS workers
On the go: The government has extended the National Health Service scheme pays deadline by three months to stop workers being hit by unexpected tax bills as a result of the tapered annual allowance.
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News
Pensions for cash at age 35? Covid-19 scams lure distressed savers
On the go: Anxious savers are trying to cash in their pensions more than 20 years before they are allowed to do so, as they fall victim to online scammers exploiting financial distress amid the coronavirus pandemic.
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Govt suspends tax rule for returning NHS workers
On the go: The government has temporarily suspended tax rules that could have seen returning NHS workers hit with a significant tax charge on their pensions income.
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Company stung by £80,000 HMRC charge for unauthorised pension loan
A light fittings company has been hit with an £80,000 scheme sanction charge by HM Revenue & Customs for making an unauthorised loan from its pension fund to an affiliated business.
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News
Govt to fund Railways scheme deficit contributions
On the go: Emergency measures introduced by the government – nationalising the railways – mean that taxpayers will be called to fund the Railways Pension Scheme deficit.
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News
Tax changes pose admin challenge for pension schemes
On the go: Pension specialists have welcomed the announced changes in pensions tax relief in this week’s Budget, but have pointed out that it brings an added administration challenge to schemes.
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Budget 2020: AA taper thresholds hiked by £90k
On the go: Chancellor of the exchequer Rishi Sunak has unveiled plans to raise the point at which tapering of the annual allowance kicks in by £90,000 as of next month.
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OpinionWhat HMRC’s guidance means for GMP in 2020
Conducting guaranteed minimum pensions equalisation is like assembling flat-packed furniture: just when you think you’re getting there you realise you’re missing half the screws.
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News
Govt to tweak tapered annual allowance in Budget
On the go: Chancellor of the exchequer Rishi Sunak will use his first Budget next Wednesday to raise the tapered annual allowance threshold income to £150,000 from the current £110,000, according to reports.
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NewsPodcast: Webb - Budget must deliver for doctors
Podcast: Former pensions minister Steve Webb argued that “it would be astonishing” if the March 11 Budget does not bring a solution to the issues caused by the tapered annual allowance for doctors and senior clinicians. Sir Steve, now partner at Lane Clark & Peacock, and Lydia Fearn, head of defined contribution and financial well-being at Redington, discuss, among other topics, the possible changes for pensions to be introduced by the chancellor.
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News
Social care crisis: is auto-enrolment the answer?
Auto-enrolment-style contributions could hold the key to solving the UK’s growing social care crisis, according to the sponsors of a report into the funding shortfall for care in later life.
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IFS calls for end to ‘ludicrous’ pension taxes
On the go: The Institute for Fiscal Studies has called on the government to put a stop to the “ludicrously generous” tax treatment of inherited pensions, rather than tinkering with pensions tax relief in next month’s Budget.
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NewsIR35 could be employment minefield
Analysis: Many employers are ill-prepared for the pensions fallout of a complex new tax fairness rule that comes into force in just six weeks’ time, experts have warned.
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News
Cracknell: Industry fails to explain ‘how’ savers can make changes
After a five-year stint as chief executive of the Pensions Advisory Service, which ended in December 2018, Michelle Cracknell started as a non-executive director at Just Group on March 1.