In J Jackson v HMRC [2017] UKFTT 341 (24 April 2017) the FTT found that a taxpayer had a reasonable excuse for his late application for enhanced protection under the Finance Act 2004 Sch 36 para 12 when his adviser had failed to file the required form.
FA 2004 s 214 introduced the lifetime allowance charge which limits the tax benefits available for saving in a registered pension scheme from 6 April 2006 (commonly referred to as ‘A day’). Special transitional provisions were adopted for those with certain levels of pension saving at A day. FA 2004 Sch 36 para 12 applied on and after A day in the case of an individual who had one or more relevant existing arrangements if notice of intention to rely on it was given to HMRC in accordance with regulations.
Mr Jackson was advised to seek the benefit of these...
