Guidance
Pensions Liberation: guidance note
This document provides guidance on new HM Revenue & Customs powers over pension liberation schemes.
Documents
Details
As announced at Budget 2014, legislation will be introduced in Finance Bill 2014 to amend Finance Act 2004. This will give HM Revenue & Customs (HMRC) new powers to help prevent pension liberation schemes being registered and make it easier for HMRC to de-register such schemes. These changes include a provision that HMRC may refuse to register a scheme, or de-register an existing scheme if, in HMRC’s opinion, the scheme administrator is not a fit and proper person.
This document provides information about the changes, when they have effect, and what this means for scheme administrators and trustees.