VAT on professional fund management costs - we need more clarity
Following cases in European courts, HMRC has recently changed the rules relating to the recoverability of VAT on professional fees paid in relation to occupational pension schemes. Tom Jackman explains what these changes mean for trustees and employers of defined benefit schemes.
Following cases in European courts, HMRC has recently changed the rules relating to the recoverability of VAT on professional fees paid in relation to occupational pension schemes. Tom Jackman explains what these changes mean for trustees and employers of defined benefit schemes
At a glance The issue for DC schemes is fairly straightforward but this is not the case with defined benefit schemes In November 2014 HMRC announced that the employer of a DB scheme would be able...
More on Law and Regulation
Scheme sponsors face £100bn in costs under DB funding code and pensions bill rules, says LCP
The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.
What trustees looking to transfer to superfunds should consider
Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering
Schemes must meet three gateway principles for superfund transfers
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
EXCLUSIVE - Guy Opperman: Why we are consigning dozen-page pension statements to the dustbin
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
Second pensions bill expected in this parliament
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.
