HMRC

Concern that taking a wide definition of ‘tax advice’ could inadvertently impact the pensions market

HM Revenue and Customs (HMRC) has revealed a 6% rise in the amount withdrawn flexibly this quarter versus the same period last year, and a 10% increase in the number of individuals using this freedom.

The GMP Equalisation Working Group has published further good practice guidance covering the tax issues relating to the equalisation of GMPs.

Savers withdrew £9.4bn flexibly from their retirement pots during 2020, data released by HM Revenue & Customs (HMRC) has shown.

The government must work with HM Revenue and Customs (HMRC) and the wider industry to clarify GMP equalisation uncertainties, Mercer says.

The Money and Pensions Service (Maps) will develop a ‘later-life checklist’ to help over-50s who have been affected by Covid-19 and need to plan for their financial future.

Former BHS owner Dominic Chappell potentially faces his fourth personal bankruptcy in order to pay £9.5m of contributions he owes to the failed retailer’s pension schemes.

The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.

The Public Accounts Committee’s recommendation that HM Revenue & Customs (HMRC) should conduct a review into the impact of pensions tax relief has been ruled out by government.

The Transparency Task Force (TTF) has published an open letter to prime minister Boris Johnson asking him to take a personal interest in pension scam problems and push for legislative flexibilities for scam victims.