12th August 2014

TiSA: Taxation of Pensions Bill Technical Consultation & Draft Guidance

To allow for the new pension flexibilities from next April, a number of changes need to be made to the existing pensions tax legislation in Finance Act 2004. These changes will be made in a Taxation of Pensions Bill which will be introduced in the Autumn. 

This week, HMRC published for consultation most of the draft clauses (see attached) that are intended to be included in the Taxation of Pensions Bill. The draft guidance (also attached) is intended to support these draft changes. These documents, together with further explanatory notes can be accessed here

Please let us have any comments you may have, noting that the closing date for comments is 3rdSeptember 2014.

 

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