New HMRC proposals

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HM Revenue & Customs has published an addendum to tax simplification newsletter 14. This outlines a reduction in the information requirements for pension commencement lump sums paid from money-purchase arrangements.

There is also a proposal to amend the Taxation of Pension Schemes (Transitional Provisions) Order 2006 (SI 1572). For copies, go to www.hmrc.gov.uk/pensionschemes/lump-sums.htm

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