The rules will take effect on 6 April next year, but trustees and managers of existing stakeholder schemes must decide before then whether to meet the requirement of becoming closed schemes that cannot take in new members.
The decision was announced in the Commons by pensions minister Malcolm Wicks, who confirmed the charge cap for pensions managers is being raised to 1.5% a year, but only for the first 10 years. Thereafter it is reduced to 1% at which it will remain capped for existing members.
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans