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.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy