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Clarification on unauthorised payments made by a pension scheme and discovery (Andrew Monaghan v HMRC)

Clarification on unauthorised payments made by a pension scheme and discovery (Andrew Monaghan v HMRC)
Published on: 16 May 2018
Published by: LexisPSL
  • Clarification on unauthorised payments made by a pension scheme and discovery (Andrew Monaghan v HMRC)
  • What are the practical implications of this case?
  • What was the background?
  • What did the FTT decide?

Article summary

Private Client analysis: In Andrew Monaghan v HMRC, the First-tier Tax Tribunal (FTT) determined that unauthorised payments made by a pension scheme (or an associated legal body) to a pension scheme member are not categorised as income, and accordingly, in the absence of a requirement for a taxpayer to self-assess, are not subject to discovery assessments under section 29(1)(a) of the Taxes Management Act 1970 (TMA 1970). Jessica Eden, senior associate in the tax department at Baker & McKenzie LLP, examines the case. or take a trial to read the full analysis.

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