 |
|
 |  |  |  |
HMRC have published promised regulations relating to the errors and omissions in the pensions schedule to the Finance Act 2024. |
The Finance Act 2024 delivers an amended pensions tax regime from 6 April 2024 in which a Lifetime Allowance on most pension and lump sum benefits is replaced by two new allowances on most lump sum benefits. David Everett, Head of Pensions Research at LCP, commented: “These important, but highly technical, regulations have been necessary as errors and omissions have been discovered in the recently enacted Finance Act 2024. The regulations seem to address nearly all of the promised changes highlighted in various HMRC newsletters since December 2023 and as such are very welcome. “Scheme administrators, in particular, will need to take note of some of the changes made by these regulations. These include which lump sums and lump sum death benefits will need to be newly reported to HMRC, and how the new lump sum allowances are established for those who have started to take benefits before 6 April 2024. “Unfortunately, this is unlikely to be ‘job done’ for HMRC when it comes to legislating for this modified pension tax regime. We are aware of other changes that will need to be made to the new law, and trust that HMRC will tackle them in a timely manner. “ The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 |
|
|
|
| Pensions Data Science Actuary | ||
| Offices UK wide, hybrid working - Negotiable | ||
| Head of Pricing | ||
| London - Negotiable | ||
| Global Specialty Pricing Actuary | ||
| London - £95,000 Per Annum | ||
| Client-facing DC investment manager | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Financial Risk Leader - Bermuda | ||
| Bermuda - Negotiable | ||
| Aylesbury Actuaries | ||
| Aylesbury / hybrid 3dpw office-based - Negotiable | ||
| Make an impact in protection pricing ... | ||
| London / hybrid 2 days p/w office-based - Negotiable | ||
| BPA Implementation Manager | ||
| North / hybrid 50/50 - Negotiable | ||
| Head of Reserving | ||
| London - £160,000 Per Annum | ||
| In-force Longevity Actuarial Analyst | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Make a difference within reinsurance ... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Be at the cutting-edge of life & heal... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Longevity Pricing Analyst | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Develop your career in life reinsuran... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Protection Pricing Actuary - Life Rei... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Life (Re)insurance Pricing Manager (P... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Take the lead: life & health reinsura... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Pricing Tools and Systems Developer | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Longevity Pricing Actuary | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Shape the future of longevity | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.
Copyright © 2024 Actuarial Post. Created by Zero-One Design Ltd
