Pensions

How to terminate a partnership’s unfunded and unapproved pension scheme

Calculating the tax-free payment from a SIPP that holds commercial property

The Pensions Regulator has announced plans for a new auto-enrolment solution to help employers that currently use HMRC’s basic PAYE tools.

The proposals, set out in a consultation document, explain how pensions officials would prefer for employers to buy appropriate payroll software, rather than rely on the Revenue’s free offering, which will not be updated to provide automatic enrolment functionality.

Pension contributions can benefit low-earning taxpayers

American tax implications of the 25% tax-free lump sum element of a UK pension

The Pensions Regulator has launched step-by-step guide to help small firms prepare for automatic enrolment.

The online service, which has been created for employers with up to 50 employees, explains how to complete key tasks including providing a point of contact for the regulator, checking who needs to be enrolled, and creating a plan of action.

The revised treatment of pension death benefits

People who decide to take advantage of the new pensions flexibility should considering the tax credit consequences, the Low Incomes Tax Reform Group has advised.

Those who withdraw money from their retirement pot from the age of 55 should consider more than just the effect on their income tax liability, according to the charity’s technical director, Robin Williamson

HMRC have issued Revenue and Customs Brief (RCB) 8 (2015) to expand on their stance on the deduction of VAT on pension fund management costs.

Unqualified spouse as director of a professional company

HMRC plan to publish new pensions guidance in draft form in early spring. The Pensions Tax Manual (PTM) will replace the current Registered Pension Schemes Manual (RPSM).

The transition of Revenue pensions content to GOV.UK means some RPSM guidance aimed at scheme members and their advisers, employers and scheme administrators appears on the pension pages of the government web hub.

Pension holders are being urged to “scam-proof their savings”, as part of a campaign by the Pensions Regulator, ahead of imminent changes to the law.

Under-55s have been the primary target of fraudsters offering to release pensions as loans or upfront cash.

With new flexibilities set for next month to give over-55s more freedom on how they access their retirement pots, the regulator has moved to alert younger savers and scheme trustees to the risks of pensions swindles.