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'risk warning regs') and the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) (Amendment No.2) Regulations 2017
(the 'valuation regs', currently in draft form
). Both sets of regs (on which we reported earlier
) amend the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations 2015 (SI 2015/742
) and both are due to come into force on . . .
13 Nov 2017
Via its VAT Input Tax (VIT)
manual, HMRC has published revised guidance
for funded occupational pension schemes. In a nutshell, current arrangements for recovery of VAT on pension costs can continue.
Following the Court of Justice of the European Union (CJEU) decision in the PPG case*, for several years HMRC has been reviewing its rules, which included suggestions that it might withdraw existing arrangements.
3. maintain charge cap protections for those transferred without consent
The consultation document goes further:
1. Actuarial certificate (scheme quality condition)
The current legislation governing bulk transfers without consent, such as the requirement to obtain an actuarial certificate, is not entirely appropriate for DC to DC transfers.