HMRC Draft Amendments to Pensions Chapter of IHT Manual
You wonít believe what we found in our nets this morning following our usual trawl of the depths of the internet for you.† What did we find?† Well, Her Majestyís Revenue & Customs people have put out some draft amendments to the pensions chapter of the Inheritance Tax manual covering changes to the Inheritance Tax treatment of pensions including Alternatively Secured Pensions and Scheme Pensions, thatís what.
Links follow here to the draft of the soon-to-be changed index to Chapter 17; the whole draft re-draft of Chapter 17; and to a draft version of a new unauthorised payments calculator.
- Chapter 17 draft index (PDF 73K)
- Chapter 17 draft guidance (PDF 373K)
- Unauthorised payment calculator draft guidance (PDF 31K)
All important stuff that Iíll probably write about in a week or so when Iíve had time to digest it; but for now I wanted to get it to you while itís still thrashing around on the deck.
That wasnít all we found in our nets today either.† We may have a link to some important stuff on pension transfers published recently by the FSA including some new tools called Ďpension-switching advice suitability assessment templatesí some of which are now available online. †If we can get to all the bits and pieces of that one together in one place we may even break with tradition and put out a second BeeLine this afternoon with details on that for you.
All of this excitement examining this morningís catch has led to me shelving the BeeLine that I was up half the night working on for today.† I wonít have time to do it justice right now, but the OECD has just published a fascinating report on the state of private pension provision in the OECD countries.† Itís the most up-to-date assessment out there and is full of interesting (not to say worrying) pension stats.† You may, or may not, be surprised to hear, for instance, that the country we live in tops the charts for having companies with the largest pension liabilities relative to their market capitalisation.† Anyway, Iíve canned that BeeLine for now and put it out as an interest piece (together with a link to the report) on www.twitter.com/pensionsguru You can get to a pdf copy if you want to read the report.
Anyway, thatís it for this BeeLine; Iíd better get back up on deck and see what all the noise is aboutÖ
25 February 2009
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