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  • Conspicuous unfairness and the Liechtenstein disclosure facility


    Submitted: 06 March 2018

    HMRC’s 2014 decision to deny further applications to take advantage of the Liechtenstein Disclosure Facility to taxpayers with EBT disputes was not conspicuously unfair.

  • GAAR Panel opinion on contrived employment tax avoidance arrangements


    Submitted: 05 March 2018

    Arrangements involving an employer financed retirement benefit scheme (EFRBS) which, via a series of tripartite transactions involving deeds of covenants and loans which were later cancelled, resulted in long-term loans to employees were, according to the GAAR Advisory Panel, not a reasonable course of action in relation to the relevant employment tax provisions.

  • Withdrawal of VAT insurance exemption for pension fund management provided by insurers


    Last Reviewed: 01 February 2018 / Submitted: 09 October 2017

    HMRC will withdraw their policy of allowing insurers to treat supplies of fund management services as VAT exempt insurance from but have agreed to consult on timing.

  • Increase in mandatory pension contributions from 06 April 2018


    Submitted: 19 January 2018

    ​From 06 April 2018, UK employers are required to increase their minimum pension contributions for qualifying workers in defined contribution pension schemes.

  • Supplies of pension fund management not exempt insurance


    Last Reviewed: 04 December 2017 / Submitted: 30 November 2017

    The High Court has rejected arguments that pension fund management services either are or should be treated in the same way as exempt supplies of insurance for VAT purposes.

  • Defined benefit pension schemes: employer input VAT


    Last Reviewed: 28 November 2017 / Submitted: 30 March 2015

    HMRC have released further guidance in relation to input VAT recovery in relation to pension schemes, dealing specifically with the recovery of input VAT by an employer in relation to a defined benefit scheme.

  • HMRC's new policy on VAT and pension schemes


    Last Reviewed: 28 November 2017 / Submitted: 26 November 2014

    HMRC have announced new guidelines on recovery of input VAT by employers in relation to occupational pension schemes and the application of the fund management exemption to defined contribution and personal pension schemes.

  • HMRC extend transitional period for employer funded pension VAT costs


    Last Reviewed: 28 November 2017 / Submitted: 06 September 2016

    HMRC have announced an extension to 31 December 2017 of the transitional period allowing employers to take advantage of the 70:30 basis of recovering input VAT associated with occupational pension schemes.

  • UK Budget 22 November 2017 - Simmons & Simmons' expert commentary


    Submitted: 22 November 2017

    Simmons & Simmons' expert commentary on those tax aspects of the 2017 UK Budget, released on 22 November 2017, which are of particular interest to the business community.

  • VAT, Asset Management and Pensions Restricted access


    Last Reviewed: 24 October 2017 / Submitted: 11 October 2017

    We look at the latest test cases on VAT exemption for pension fund management, the judgment in the Investment Trusts case, balancing regulatory duty to treat customers fairly vs managing litigation risk, latest case law on scope of VAT exemption for fund management and administration, and latest developments in the Littlewoods compound interest claims’ case.

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