Part of the problem, according to Mr Bradshaw, is the time these processes take to be completed, with some cases taking around 33 weeks.
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.