We are proud to announce that Nigel Sloam became Chairman of the International Association of Consulting Actuaries (IACA) this month.

In his Budget today Chancellor Rishi Sunak has relieved considerably some of the currently onerous restrictions on pension contributions for higher earners. For the tax year 2020/21, reductions in the annual maximum contribution limit will only apply to people:a) whose taxable income exceeds £200,000 (previously £110,000) andb) additionally, whose taxable income plus imputed...... Read more

HMRC appear to have decided, for no obvious reason, to target schemes where the Employer has become dormant.  In such cases HMRC may take action to deregister the Scheme resulting in a tax charge of 40% of the value of the assets.