News

Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.

Latest News

Finance (No.2) Act 2015

Introduction The Finance (No. 2) Bill 2015 (“the Bill”) received Royal Assent on 18 November 2015 and is now known as the Finance (No. 2) Act 2015 (“the Act”). The Act, which introduces a number of provisions that were announced by...

VAT on professional fund management costs – latest news

Introduction On 26 October 2015, HMRC issued its latest missive in the long running saga regarding the recoverability of VAT on professional fund management costs paid in respect of occupational pension schemes. In this Alert Key points...

Normal minimum pension age (NMPA)

Since 6 April 2010, individuals have generally had to wait until their 55th birthday before taking benefits (instead of age 50 as previously), unless they have an earlier protected pension age (see below) or their retirement is on...

Administration: Role and responsibilities of the Scheme Administrator

Under section 270 of the FA04, the scheme administrator is responsible for the tax affairs of the scheme and for ensuring that it complies with its tax obligations. To be appointed as a scheme administrator, a person or persons must be...

Authorised payments

Since A-Day (6 April 2006) payments by registered occupational pension schemes are categorised as either authorised or unauthorised member or employer payments. Tax relief is given in respect of retirement saving in a registered pension...

Summer Finance Bill 2015

Introduction On 15 July 2015, the Government published its Summer Finance Bill (“the Bill”) with a view to introducing a number of provisions that were announced by the Chancellor in his Summer Budget. In this Alert Key points...

Summer Budget 2015

Introduction In the first Conservative Budget since 1996, the Chancellor of the Exchequer has again turned his attention to pensions. In this Alert Key points Reduction of the AA for high earners Consultation on pensions tax relief Pension...