Pension scheme de-registration threat?

Published by Ian Ward, James Jones-Tinsley on

The latest Finance Bill - published shortly after the Autumn Budget - contains legislation which, if enacted as drafted, would give HM Revenue & Customs (HMRC) additional discretionary powers to de-register an occupational pension scheme, (which includes a SSAS), if its sponsoring employer is dormant.

We are concerned that this could lead to bona fide pension schemes being de-registered – with all the resulting tax consequences – even though there may be perfectly legitimate reasons as to why the sponsoring employer is now dormant.

Please help us to appraise politicians of the potentially adverse outcomes of this legislation, as the Bill passes through the House of Commons, by writing to your local Member of Parliament.

We outline suggested wording for your letter; together with the briefing note below to print off and enclose with it.

In addition, here is a link to a website that provides contact details for your local MP;