Since April 2006 “simplified” tax arrangements have applied to pension schemes. But nothing about pension schemes and tax is simple.

We are experts in helping trustees and administrators of schemes understand tax arrangements in both DB schemes and DC schemes. There may be adverse tax consequences for both members and schemes if unauthorised payments are made.

How we can help

  • Advice on categorising benefits as authorised or unauthorised payments under the Finance Act 2004
  • Ensuring that employers can provide tax efficient pension benefits, despite the continuing reductions in the key allowances, the annual allowance and the lifetime allowance
  • Applying for tax protections and designing benefit arrangements and transactions to ensure that these protections are maintained
  • Advice on the tax arrangements for certain investment vehicles, such as Special Purpose Vehicles
  • Advice on transfers to overseas pensions schemes and QROPS issues.

Recent experience

  • Advice on the application of the tax allowances to high earners
  • Advice on providing benefits in excess of the lifetime allowance, including payment of the tax charges, member communications and documentation
  • Advice on establishing and operating salary sacrifice arrangements
  • Advice on the implications of the 2015 pension freedoms
  • Advice on the impact of the 2015 summer budget changes
  • Responding to consultations on proposed tax changes.