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03 Oct, 2013
The form to apply for FP2014 is now available on the HMRC website. The form can be completed and submitted online or by printing the PDF off and posting the completed form to HMRC Pension Schemes Services.
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27 Sep, 2013
The last month has been relatively quiet for articles but there are some thoughtful articles nonetheless. There are a couple of articles analysing the QROPS marketplace, reviewing recent events and looking to the future. A related article looks at the risks involved in NOT giving QROPS advice for advisers, which in any case is against FCA guidelines.
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19 Aug, 2013
A good balance of articles in this monthÂ’s Bulletin. The main article concerns HMRCÂ’s announcement of its new regulation which, at least so far, confounds the doom and gloom purveyors predicting dire outcomes for QROPS.
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31 Jul, 2013
As I see it current tax law is caught in a bizarre pincer movement. One the one hand, the Daily Mail, The Times and, we are led to believe, the majority of tax-paying individuals are all outraged by perfectly legal tax planning arrangements, on the other side of the pincer movement are MPs.
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31 Jul, 2013
This received Royal Assent on 17 July 2013 and includes the legislation to reduce the Lifetime Allowance (LTA) from £1.5 million to £1.25 million from 2014-15 as well as for Fixed Protection 2014 (FP2014), which is intended to protect savers who think they may be affected by the reduction in the LTA.
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22 Jul, 2013
Every maritime or aircraft vehicle owner, whether a businessman or a private person, requires a flag for their vehicle, i.e. the vehicle is to be registered. In the world of today, we see that a significant amount of vessels are registered in the so-called “offshore jurisdictions” that have developed their Maritime and Aircraft Management Legislation specifically to attract international customers.
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17 Jul, 2013
July has been a mainly quiet (if repetitive) month for articles so far. The most dominant story has been to do with HMRC’s defeat in court over its treatment of the ROSIIP Singapore scheme. They may yet appeal. From this it appeared that they may have cancelled 400plus QROPS schemes in anticipation of victory, or at least ‘in error’. They have since been reinstated. Very clever!
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15 Jul, 2013
Since A Day a significant number of players have either moved out of the SSAS administration/trusteeship marketplace, or have raised their fees substantially. We remain firmly of the view that SSASs will continue to have an important part to play in pension provision. Accordingly we continue to provide a high quality SSAS administration and (where required) trusteeship service.
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14 Jun, 2013
There are some interesting articles this month, with the main theme being the ‘new’ draft regulations governing QROPS. Most commentators seem to think this is a good move and will add security to the process – an opinion with which we happily concur. The main reason seems to be the sheer volume of transfers now (in addition to the well-publicised problems, and maybe one or two which have not yet come to light). There has also been an increase in the number of QROPS Schemes – now over 3,000 seemingly.
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13 Jun, 2013
At SIPP Specialists we believe in offering advisers and their clients, flexibility, transparency and quality service. We are not, and never will be a call centre.
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