Public service pensions remedy guidance published
HMRC has released a suite of guidance for dealing with public service pensions that are affected by the McCloud remedy, including a tool for calculating the adjustment and making a claim. Changes were made to public service pensions in 2015 by the government. Most public sector workers were moved into reformed career average pension schemes. […]
Will income tax be extended to beneficiaries of all pensions?
Policy documents regarding changes to the taxation of pensions were published as part of Legislation Day 2023. This included a suggestion that certain beneficiaries of pensions of members who died under age 75 may become subject to income tax as part of future tax changes. Currently where an individual pension holder dies before age 75, […]
Legislation Day 2023: R&D and pensions
While a lot of the material published on 18 July was expected, there were some surprise announcements including planned administrative changes to the high income child benefit charge. Legislation day is designed to provide a longer period for consultation on draft legislation for potential inclusion in the next Finance Bill. Most measures have been subject […]
Pensions dashboard: five things you need to know
When you change employers, it’s not just a new job you’ll be getting – you may also be enrolled into a new workplace pension. It’s estimated that the average worker will build up 11 different pension pots over the course of their career, and keeping track of them all can be difficult. As a result, around […]