Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.
Introduction Changes to pensions tax relief have been headline news since the former Labour Government first announced restrictions in April 2009. Since then, proposals for limiting relief have undergone significant changes, culminating in...
Introduction The reduced AA of £50,000 from the tax year 2011/12 will inevitably affect a greater number of pension savers than the current AA of £255,000. Following aconsultation1 in the autumn, the Government has now set out how...
Introduction What is a PIP? A “pension input period” (PIP)1 is used to assess annual increases in the value of members’ pension savings for the purpose of testing against the AA. Increases are measured against the AA for the tax...
Background The joint HMT / HMRC consultation (published on 30 November 2010 ) on “Options for meeting high annual allowance charges from pension benefits” (the Consultation), sets out two broad options (aimed primarily at DB schemes)...
Introduction The New Year brings with it the introduction of new tax measures for pension schemes. But with 6 April 2011 fast approaching, some schemes may still need to contend with the ‘old’ tax changes. In the first of a series of...
Introduction When the Government published its final plans for restricting pensions tax relief on 14 October 20101, the headline issue was the significant reduction in the AA from £255,000 to £50,000 from the tax year 2011/12. However,...
Introduction Section 251 of the PA04 has been troubling both trustees and employers. It appears to prevent a payment being made to an employer out of scheme assets unless, before 6 April 2011, an appropriate trustee resolution has been...
