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G Clark v HMRC

In G Clark v HMRC [2018] UKUT 397 (26 November 2018) the UT found that the taxpayer had made unauthorised payments out of a pension scheme (FA 2004 s 208).

Mr Clark is a retired businessman having retired from full-time work in 2000. His pension was originally in a fund established by his employer Southnews which was subsequently acquired by the Trinity Mirror Group which took over the fund and made some changes to it. This led Mr Clark to set up two self-invested pension schemes (SIPPs). As the returns produced by the SIPPs were low Mr Clark decided to transfer the funds held in one of them under an elaborate ‘pension transfer plan’. The issue was whether he had made unauthorised payments.

It was accepted that there had been no transfer of beneficial ownership of the relevant sums and the first issue was therefore...

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