All Tax articles – Page 9
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News
Now Pensions tax relief top-up claims double in a year
On the go: Workplace pension provider Now Pensions will be topping up pension pots of non-taxpayer members for the fourth year, after seeing claims double in 2017-18, when compared with the previous period.
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News
HMRC request for schemes to report breaches branded ‘unsatisfactory’
HM Revenue & Customs' request for pension administrators to remind their members about potential tax breaches has been branded ‘very unsatisfactory’ by a former pensions minister, who said the tax authority was offloading its own responsibilities onto schemes.
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News
Unilever proposes DB scheme closure to new members
On the go: Unilever is poised to close its defined benefit scheme to new members, in an attempt to reduce increasing costs and allow greater flexibility for employees.
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News
Calls for NHS pension solution to be extended to armed forces
On the go: The Forces Pension Society has called on the government to extend its temporary fix for pension tax issues for senior clinicians to the armed forces.
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News
Conservatives promise to revive pensions bill
On the go: The Conservative party has promised to bring back Guy Opperman’s three-part pensions bill if re-elected, in a manifesto that largely maintains the status quo in retirement saving.
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News
Lib Dems in NHS pensions pledge
On the go: The Liberal Democrats have pledged to find a solution for the pensions crisis driving senior NHS staff to turn down extra work, but stopped short of any commitment to end the annual allowance taper.
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News
Greens manifesto to force fossil fuel divestment for public schemes
On the go: Public sector pension funds would be required to divest from fossil fuel-related companies under a government led by the Green Party, which has released a manifesto packed with controversial pension reforms.
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News
Govt solution for doctors’ tax bill met with criticism
The government will introduce an emergency measure to pay the tax bills of doctors and consultants in England affected by the tapered annual allowance, but the move has been criticised by experts.
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News
Actuaries call for legislation on DB schemes simplification
On the go: The Association of Consulting Actuaries is calling for the next government to facilitate the wider simplification of defined benefit schemes, as part of its manifesto for the December general election.
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News
Politicians expected to duck divisive pensions issues
On the go: Radical pensions reforms are likely to be avoided by political parties in their election manifestos, according to Royal London analysis.
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News
Traditional pensions fail millennials, finds Smarterly
On the go: A report has questioned whether employers truly understand their employees’ financial priorities.
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News
GMP compensation could cost members thousands in extra tax
On the go: Inadvertent action by an employer or pension scheme to compensate scheme members for inequalities in guaranteed minimum pensions could invalidate longstanding protection from onerous tax burdens, landing wealthy pensioners with tax bills of hundreds of thousands of pounds.
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Features
Bob Scott: The 40-year pensions perspective
Bob Scott is something of a rarity – a pensions lifer who has worked for the same firm virtually all his adult life, having joined Lane Clark & Peacock nearly 40 years ago in 1982.
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OpinionMultiple tax treatments create yet another gap
Editorial: Never underestimate the power of well-organised workers providing a public service, even when faced with a chancellor whose conservative idols took on the trades unions.
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NewsWiden taper consultation to fix pensions tax system, experts say
A chorus of pension experts is urging the government to extend the ambit of its consultation on the workings of the tapered annual allowance to include the private sector along with other anomalies and injustices.
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NewsCritics rebuke Hancock's 'narrow' NHS pension consultation
The British Medical Association poured cold water on the government’s NHS pension consultation on Monday, criticising its proposal of '50:50' accrual as too narrow and calling for the annual and tapered allowance to be scrapped altogether.
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OpinionSimplifying our taxation system may have to wait
Editorial: Do pension issues keep Boris Johnson awake at night? At first instance one suspects the plight of pensioners comes some distance behind gaining power and self-preservation on our presumed next prime minister’s list of priorities.
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News
Unions allege govt sidestepped advice on NHS pensions
On the go: The Department for Health and Social Care is under fire for reportedly deciding to pursue its ‘50:50’ reform for NHS Pensions before it had received a report commissioned from its advisory board.
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OpinionPursuing simplicity remains vital
Schemes must be transparent, non-complex and focused on member outcomes, if the industry is to retain consumer confidence, writes ACA chair Jenny Condron.
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News
HMRC withdraws appeal in pensions tax case
HM Revenue & Customs has dropped a £400k legal battle with a pension saver who inadvertently exceeded his lifetime tax-free allowance, making further litigation more likely.