Partial surrenders of life insurance policy
Pension scheme: application for late election
Paul Howard sets out the tax consequences for the different methods of finance
National insurance contributions: whether official record of contributions paid correct
A bogus financial adviser was jailed for three years after Hull Crown Court heard that he persuaded more than 30 people to make unauthorised transfers of £3.4m from pension funds to avoid paying tax of £1.9m.
‘The world has changed for tax evaders,’ Dave Hartnett, Permanent Secretary for Tax at HMRC, said as HM Treasury announced yesterday’s agreement with Switzerland to address evasion by UK taxpayers.
The UK’s tax deal with Switzerland is expected to come into force in 2013, following scrutiny by Parliament and after ratification procedures in Switzerland are complete, HM Treasury said.
An application form for use by individuals seeking ‘fixed protection’ of the £1.8 million lifetime allowance for pension savings has been published.
The current lifetime allowance of £1.8 million will be reduced to £1.5 million from 6 April 2012.