HMRC

Tax & Regulation | 7 Dec 16

HMRC tightens noose on advisers who enable tax avoidance

HMRC is to go ahead and issue hefty fines to financial advisers found guilty of helping their clients avoid tax, as it sets out clear guidelines on who exactly will be affected by the move.

Transfers into overseas pensions fall by a third, says HMRC

Retirement | 6 Dec 16

Transfers into overseas pensions fall by a third, says HMRC

The number of British citizens transferring their UK pensions into recognised overseas pension schemes (Rops) has dropped by more than a third since the pension freedoms were introduced in April 2015, according to HM Revenue & Customs (HMRC).

Overseas pensions to be struck off if not locally regulated

Europe | 6 Dec 16

Overseas pensions to be struck off if not locally regulated

The UK is to require overseas pensions to be regulated in the country where they are established in order to be ‘recognised’ by HM Revenue & Customs (HMRC), as it pushes ahead with plans to scrap the 70% ‘income for life’ rule.

UK politicians slam HMRC over lack of tax relief scrutiny

Tax & Regulation | 2 Dec 16

UK politicians slam HMRC over lack of tax relief scrutiny

British MPs have criticised HM Revenue & Customs (HMRC) over its lack of scrutiny on whether tax reliefs are being used effectively, raising doubts about plans to digitise its services.

HMRC’s planned overhaul will ‘decimate’ Rops market, says IFA

Retirement | 29 Nov 16

HMRC’s planned overhaul will ‘decimate’ Rops market, says IFA

The UK’s plan to abolish the 70% ‘income for life’ rule on recognised overseas pension schemes (Rops) will “decimate” the market for such products, according to the head of expat-focused IFA firm, Montfort International.