Of interest to all trustees and administrators is the latest publication from HMRC detailing its ongoing efforts to tackle pension liberation fraud, including additional information required before a scheme is registered.
With effect from 6 April 2015, administrators seeking to register a pension scheme will be required to answer additional online questions from HMRC. Further information and documentation may also be required subsequently.
These extra safeguards are intended to build on the “fit and proper person” requirements which came into force on 1 September 2014. The newsletter also highlights changes due to be made from 6 April 2015 to the provision of information requirements (by amending regulations) in an attempt to prevent a scheme being set up and then changing its structure to enable potential liberation activities.
View the newsletter.