Despite all of the traditional talk of changes to pensions tax relief in the run-up to the Budget, today’s Budget turned out to be a quiet one for pensions, with the Chancellor’s focus and priorities elsewhere. However, the Budget did include some pensions-related announcements including the launch of the consultation on the future of the … Read more
On 20 February 2020, HMRC finally published its long awaited guidance on some of the tax issues associated with implementing GMP equalisation. While the guidance provides helpful clarity in some areas, its scope is limited and it leaves a lot of significant questions unanswered. In particular, the guidance does not address the tax consequences of … Read more
HMRC has today issued its long-awaited guidance on some of the tax issues associated with implementing GMP equalisation. The guidance is limited in scope as it only relates to benefit adjustments where the reason for the adjustment is solely GMP equalisation. In addition, it only relates to equalisation methods where a dual record keeping (or … Read more
