HM Revenue & Customs has been urged to clarify the circumstances when inheritance tax will apply to pension transfers. Jessica List, pension technical manager at Suffolk Life, said the fact HMRC has not issued clear guidance on the matter meant advi
Until 1 January 2005, UK VAT legislation treated pension fund management services provided by insurers as exempt from VAT, but those provided by non-insurers as standard rated.
Sovereign Group has acquired the pensions business of Concept Trustees (Gibraltar), including all of the pension schemes under the Aurora Europa brand, from Concept Group.
Three years ago, a deal was struck that allowed the pension scheme to fall into the Pension Protection Fund, with the Mantegazzas making a £30m mitigation payment.