Market leading insight for tax experts
View online issue

SC Willey v HMRC

In SC Willey v HMRC (TC02731 – 11 June) a pension scheme made an unauthorised payment of £100 000 to one of its members in 2006. HMRC issued an assessment on the scheme administrator (W) under FA 2004 s 255. The First-tier Tribunal dismissed W’s appeal against the assessment. Judge Cannan noted that W was a chartered accountant and a chartered tax adviser. W had failed to observe the statutory reporting requirements and ‘had delegated day-to-day control of the schemes for which he was the scheme administrator to another individual’.

Judge Cannan observed that ‘one of the reasons for the tax charges which arise where a pension scheme makes unauthorised payments is to safeguard the tax-relieved funds in the scheme for the provision of retirement benefits. In relation to loans the provisions seek to ensure that funds are not loaned in circumstances where there is a risk they...

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.