PENSIONS INVESTMENTS

Matthew Harrison and Nicholas Donnithorne (Babbé) examine two decisions which, in their view, reflect poorly on HMRC.

HMRC's new manage and register pension schemes service opened on 4 June for pension scheme administrator registrations and applications to register pension schemes.

HMRC is to begin rolling out its new ‘Manage and register pension schemes’ service on 8 May 2018. The new service is intended to replace the pension schemes online service completely after 2020.

HMRC has updated its Pensions Tax Manual to reflect changes made by FA 2018 and the regulations SI 2018/5, SI 2018/150 and SI 2018/373. In particular, the following content has been updated:

Chris Bates

Chris Bates (Norton Rose Fulbright) reviews a recent High Court decision on the VAT treatment of investment management fees incurred by pension funds.

The Registered Pension Schemes (Relief at Source) (Amendment) Regulations, SI 2018/150, require pension scheme administrators reclaiming tax from HMRC for relief given at source to submit annual returns of individual information by 5 July (currently 5 October) following the end of the year of ass

The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations, SI 2018/5, come into force on 30 January 2018 to introduce a requirement from 6 April 2018 for pension scheme administrators to notify HMRC when a scheme becomes, or ceases to be, a master trust sc

Nick Skerrett

Gary Barnett

The Supreme Court has held that a customer overcharged VAT by a supplier will not, generally, have a restitutionary right to recover that overcharged VAT from HMRC. Nick Skerrett and Gary Barnett (Simmons & Simmons) analyse the decision.

Simon Whitehead

Sarah Tulip

Simon Whitehead and Sarah Tulip (Joseph Hage Aaronson) consider the implications, and legality, of the new 25% tax on transfers to pensions outside the UK.