Matthew Swynnerton: Trustees should not fear being bounced into complex VAT arrangements, or expected by the sponsor to come up with a solution
HM Revenue & Customs’ (HMRC’s) latest guidance on VAT recovery for pension scheme costs is perplexing. There may be real money at stake for some sponsors. This is not, however, another new and intractable governance problem that trustees must solve.
The issue has arisen because a pronouncement from HMRC in July had a new emphasis. A VAT notice repeated the 2025 news that sponsors could recover VAT on a scheme's investment costs in full, as wel...
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