HM Revenue & Customs

The PPF is increasingly being called to vote on behalf of pension schemes in the event of a CVA process. James Phillips speaks to Malcolm Weir about the lifeboat fund’s capabilities.

More than 4,500 pension scheme members breached the lifetime allowance in the 2017/18 tax year, an increase of 36% from the year before, according to HM Revenue and Customs (HMRC).

Accidental breaches of lifetime allowance fixed protections could no longer result in onerous tax bills after HM Revenue and Customs (HMRC) dropped its appeal of a landmark case.

Members of occupational pension schemes claimed £4.3bn in pensions tax relief in 2017/18, as total relief climbed £1.1bn.

HM Revenue and Customs (HMRC) has formed a working group to help schemes consider the pension tax issues arising from the guaranteed minimum pension (GMP) equalisation process.

HM Revenue and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.

HM Revenue and Customs (HMRC) has had to pay £38m to pension freedom users after more than 18,000 counts of tax overpayment were reported.

The government is set to review an anomaly which sees lower-paid workers in the majority of master trusts lose out on tax relief, it has confirmed.

The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.

A record £2.3bn was withdrawn from pensions under Freedom and Choice in the second quarter of this year, according to HM Revenue & Customs (HMRC).