Details of a new Pensions Industry Stakeholder Forum, set up to help HMRC better manage its relationship with stakeholders and representative bodies, are set out in issue 42 of HMRC’s Pension Schemes Newsletter.
Sarah Gabbai and Tony Stitt look at the current situation regarding the taxation of offshore funds
A new tax-free savings account for children is expected to be available by Autumn 2011.
Andrew Penman explains the new rules limiting tax relief available on pension contributions and why they affect some individuals immediately
David Brookes examines the practical effects of the forthcoming changes to VCT legislation
The UK and Swiss Governments have signed a declaration on the ‘initiation’ of negotiations, expected to begin next year, on the introduction of a flat rate withholding tax on savings income. Critics warned that the deal would protect the identity of tax evaders.
Andrew Hubbard comments on the pensions tax relief changes
The ICAEW Tax Faculty has warned that compliance and information obligations arising under revised proposals for the restriction of pensions tax relief are ‘likely to make many more employers, at least in the private sector, consider closing their defined benefit schemes to future contributions,
New bonus rates apply to SAYE share option schemes from 12 September. No bonus is earned on three year contracts.