Tax Efficient Retirement Planning, Third Edition navigates you through the latest UK pension tax legislation and HMRC practice, outlining the main tax rules applicable to registered pension schemes and employer-financed retirement benefits schemes with a particular focus on advising high net-worth individuals.
A system in flux
The world of UK pension provision is undergoing continuous changes to legislation, regulation and best practice. With austerity cuts impacting on future pension provision and an increase in HMRC's investigation powers, it is essential that you understand how to operate efficiently within the revised parameters for pension schemes. Tax Efficient Retirement Planning provides all the information you require in one place with a stamp of authority from the highly experienced author.
New and improved content
This fully updated edition addresses the major Budget and Finance Act 2014 announcements which involve:
* The introduction of the UK's first General Anti-Abuse Rule (GAAR)
* Amendments to the Disclosure of Tax Avoidance Schemes (DOTAS) rules
* The tax treatment and accessibility of defined contribution pensions
* The rules relating to small pots and trivial pensions
* The lump sum revaluation factor
* Cuts to the annual and lifetime allowances
* The extension of HMRC powers, including tackling pension liberation schemes
* New constraints on qualifying recognised overseas pension schemes
* Changes to the capped and flexible drawdown limits
* The proposal to give total freedom of access to many pension pots by individuals
A handy research tool
Structured into six distinct parts for speedy access to relevant content, the book covers the general rules applicable to pension schemes, issues and tax planning for high earners, overseas considerations, disguised remuneration rules, the essential compliance rules and alternative methods of saving for retirement.
Helping you to help your clients
With worked examples, technical know-how and summary checklists at the end of each chapter, this practical resource guides you through the maze of regulation and practice in order to achieve maximum benefit for your clients.
Who should buy this book?
Tax Efficient Retirement Planning provides a rich source of information for tax advisers dealing with high net worth individuals and/or pension schemes, pensions lawyers, compliance officers, investment advisers and financial advisers.
Previous print edition ISBN: 9781847669292
Alec Ure has over 40 years' experience in all aspects of pensions work, with the Inland Revenue, Hewitt Bacon & Woodrow and Gissings. He has wide knowledge of both DWP and HMRC legislation and practice, and is a specialist in legal drafting for the UK as well as off-shore and other international pension schemes.
Contents: Part One - The registered pension scheme tax rules; 1 Introduction; 2 Registration, providers and membership; 3 Tax reliefs on contributions and assets; 4 Benefit rules; 5 Investment rules; 6 Transfers; 7 Reporting rules. Part Two - General taxation and tax planning considerations for individuals and employers: 8 Tax considerations; 9 Transitional protection; 10 Tax planning. Part Three - High earners of registered pension schemes: 11 High earners of registered pension schemes; 12 Investment-regulated pension schemes. Part Four - Overseas considerations: 13 Overseas considerations. Part Five - Other forms of tax efficient provision for high earners and employers: 14 Other forms of tax efficient provision for high earners and employers. Part Six - Tax charges, penalties and disclosure of tax avoidance schemes: 15 Tax charges, penalties and disclosure of tax avoidance schemes.