The pensions tax regime

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Practice notes
The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...
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9th Nov
Practice notes
The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...
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9th Nov
Practice notes
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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9th Nov
Practice notes
A damages or compensation payment may attract VAT. This depends on exactly what the payment is for. If it is purely compensatory, it will be outside...
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9th Nov
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
Practice notes
This Practice Note is about the meaning of a scheme of reconstruction for tax purposes.Tax neutrality is maintained where a company (company A) enters...
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9th Nov
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 12th Jan
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 12th Jan
Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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9th Nov
Practice notes
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 12th Jan
Practice notes
Stamp duty land tax (SDLT) ceased to apply to any land transaction involving any interests in or over land in Scotland from 1 April 2015. From that...
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9th Nov
Practice notes
FORTHCOMING CHANGE relating to property rich collective investment vehicles and certain investors: HMRC is consulting until 16 December 2020 on draft...
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9th Nov
Practice notes
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 12th Jan

Most recent The pensions tax regime content

Q&As
Is relief from stamp duty land tax available to beneficiaries of a private pension scheme who buy a property from their own pension scheme?There is no...
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13th May
Practice notes
THIS PRACTICE NOTE RELATES TO REGISTERED PENSION SCHEMESThe lifetime allowanceWhile there is no limit on the total amount of authorised benefits a...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 5th May
Practice notes
THIS PRACTICE NOTE RELATES TO REGISTERED PENSION SCHEMESThe lifetime allowanceWhile there is no limit on the total amount of authorised benefits a...
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9th Apr
Practice notes
THIS PRACTICE NOTE APPLIES ONLY TO PENSION SCHEMES IN ENGLAND AND WALESScheme Pays, introduced by Schedule 17 to the Finance Act 2011 (FA 2011) allows...
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Produced in partnership with Herbert Smith Freehills and Naveed Soomro of Squire Patton Boggs 9th Apr
Practice notes
Through the Finance Act 2014, the government introduced two lifetime allowance protection regimes to accompany the reduction in the lifetime allowance...
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9th Apr
Practice notes
There are no limits on the benefits that may be provided by a registered pension scheme. However, under the Finance Act 2004 (FA 2004) if a scheme...
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Produced in partnership with Mark Smith and Georgina Wardrop of Taylor Wessing LLP and Martin Scott of gunnercooke LLP 9th Apr
Practice notes
THIS PRACTICE NOTE RELATES TO REGISTERED PENSION SCHEMESThe lifetime allowanceWhile there is no limit on the total amount of authorised benefits a...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
THIS PRACTICE NOTE RELATES TO REGISTERED PENSION SCHEMESThe lifetime allowanceWhile there is no limit on the total amount of authorised benefits a...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
Pension schemes sometimes make payments to members that are not in accordance with scheme rules or that may breach other tax or legal regulations. As...
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9th Apr
Practice notes
Benefits of registrationRegistration provides advantageous tax reliefs and exemptions for a pension scheme and its members, including the...
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9th Apr
Practice notes
This Practice Note summarises the characteristics of the different forms of lifetime allowance (LTA) protections.For detailed information on each of...
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Produced in partnership with Danny Tsang of Simmons & Simmons 9th Apr
Practice notes
Contributed by Chris Coulston and Harry Stead, Deloitte LLPThe funding of defined benefit pension schemes and the volatility and risk associated with...
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9th Apr
Practice notes
What is disguised remuneration?HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
Factors which led to the creation of the Lifetime ISASuccessive UK governments have long proclaimed the importance of encouraging long-term savings...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
THIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMESBackground: what are additional voluntary contributions, and why distinguish...
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Produced in partnership with Charles Russell Speechlys LLP 9th Apr
Practice notes
The Finance Act 2011 (FA 2011) received Royal Assent on 27 July 2011. FA 2011 enacted proposals (aimed at raising revenue) that were proposed by HM...
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Produced in partnership with Herbert Smith Freehills and Naveed Soomro of Squire Patton Boggs 9th Apr
Practice notes
THIS PRACTICE NOTE APPLIES IN RELATION TO DEFINED BENEFIT OCCUPATIONAL PENSION SCHEMESWhat is a section 75 debt?Sections 75 and 75A of the Pensions...
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Produced in partnership with Patrick Ford of Squire Patton Boggs 9th Apr
Practice notes
Authorised payments v unauthorised paymentsA pension scheme that has registered with HM Revenue & Customs (HMRC) benefits from favourable UK tax...
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Produced in partnership with Mark Smith and Georgina Wardrop of Taylor Wessing LLP 9th Apr
Practice notes
FORTHCOMING DEVELOPMENT: As promised in the Spring Budget 2020 (held on 11 March 2020), on 21 July 2020 HM Treasury launched a call for evidence...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
The pensions tax regime under the Finance Act 2004 came into effect on 6 April 2006, otherwise known as A-day. The pre A-day regime may still be of...
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Produced in partnership with Mark Smith, Georgina Wardrop and Angela Sharma of Taylor Wessing LLP 9th Apr

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