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Pensions articles

Latest ICAEW articles and insights on pensions.
Displaying 1-40 of 97 results
Check for state pension gaps by 5 April 2025, says HMRC
  • Article
  • 11 Feb 2025
  • ICAEW Insights
HMRC is encouraging people to check if they could increase their state pension by making voluntary national insurance (NI) contributions by 5 April 2025.
Over one million taxpayers may face £100 penalty
  • Article
  • 04 Feb 2025
  • ICAEW Insights
HMRC estimates that 1.1 million taxpayers missed the 31 January 2025 deadline for filing their 2023/24 tax return. ICAEW explains the penalties, and why late filers should consider whether an easement applies, or if they have grounds to appeal.
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Chart of the week: Pensioners on the rise
  • Article
  • 31 Jan 2025
  • ICAEW Insights
Our chart this week highlights how the number of pensioners in the UK is expected to increase by 14% over the next 10 years. This will have major implications for the public finances.
Group of people having a meeting round a table
Technical round-up: January 2025
  • Article
  • 30 Jan 2025
  • ICAEW Insights
This month’s top stories feature Parliament accusing HMRC of damaging trust in the tax system; a warning to not respond to a fraudulent agent services text message; and more from the How to fix VAT campaign.
31 January deadline for public sector pension scheme members
  • Article
  • 28 Jan 2025
  • ICAEW Insights
ICAEW explains why 31 January 2025 is a key deadline for members of public sector pension schemes disclosing McCloud tax charges and highlights HMRC guidance on completing the 2023/24 tax return where a pension statement is received late.
Tax news in brief 29 January 2025
  • Article
  • 28 Jan 2025
  • ICAEW Insights
Highlights from the broader tax news for the week ending 29 January 2025, including: an update on Finance Bill 2024-25; new HMRC guidance on labour supply chain assurance; and notification of a one-to-many campaign from HMRC
ICAEW’s view on plans to charge IHT on pensions
  • Article
  • 27 Jan 2025
  • ICAEW Insights
ICAEW is concerned that the proposed processes for bringing more pensions within the scope of inheritance tax (IHT) will cause delays in payouts to beneficiaries and place a significant administrative burden on pension scheme administrators (PSAs).
illustration of a pink piggy bank on an abacus with wooden beads
Exclusive Efficient pensions audits for trustees: relationships matter
  • Article
  • 17 Jan 2025
  • Helen Pierpoint and Amelia Pickard
Planning and communication between management, auditors and trustees are key to an efficient audit process that can reduce the burden on pension scheme trustees. Helen Pierpoint and Amelia Pickard outline why and how.
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Chart of the week: UK public sector pension liabilities
  • Article
  • 13 Dec 2024
  • ICAEW Insights
Our chart this week looks at how public sector net pension obligations reduced by £1.2tn from £2.6tn to £1.4tn during the financial year ended 31 March 2023 as a consequence of a sharply rising discount rate.
Tax news in brief 11 December 2024
  • Article
  • 10 Dec 2024
  • ICAEW Insights
Highlights from the broader tax news for the week ending 11 December 2024, including: an evaluation of rent-a-room relief; a new HMRC tool relating to umbrella companies; and an update on freeports.
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Chart of the week: US federal debt
  • Article
  • 06 Dec 2024
  • ICAEW Insights
Our chart this week looks at how US federal debt has almost doubled over the past decade from $17.8tn in September 2014 to $35.5tn at the end of the most recent financial year in September 2024, with debt held by the public increasing from $12.8tn to $28.3tn.
How agents can help with McCloud tax changes
  • Article
  • 03 Dec 2024
  • ICAEW Insights
ICAEW explains how agents can make use of HMRC’s online service to correct the tax position of a client affected by the public service pensions remedy (also known as McCloud).
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Chart of the week: Economic outlook
  • Article
  • 07 Nov 2024
  • ICAEW Insights
Our chart this week looks at how the OBR is forecasting growth in economic activity per person of 1.1% a year between 2024 and 2030. While better than the average of 0.3% a year achieved over the past 16 years, it is significantly lower than the 2.3% a year seen in the 50 years before that.
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Chart of the week: Autumn Budget 2024
  • Article
  • 31 Oct 2024
  • ICAEW Insights
Our chart this week looks at how the fiscal baseline inherited by the Chancellor has changed as a consequence of the Autumn Budget, with higher capital investment driving up borrowing needed to fund the deficit over the next five years.
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Chart of the week: pre-Budget fiscal baseline
  • Article
  • 24 Oct 2024
  • ICAEW Insights
Our chart this week looks at the fiscal baseline inherited by the Chancellor ahead of her first Budget next week.
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Chart of the week: a new debt target?
  • Article
  • 17 Oct 2024
  • ICAEW Insights
Our chart this week takes a look at how the debt target in the Autumn Budget later this month could change and what that might mean for the Chancellor’s capacity to borrow to invest.
Tax news in brief 16 October 2024
  • Article
  • 15 Oct 2024
  • ICAEW Insights
Highlights from the broader tax news for the week ending 16 October 2024, including: an update on the new independent film tax credit; HMRC encourages taxpayers to look online for information; and a HMRC one-to-many campaign relating to 2022/23 tax returns.
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Chart of the week: Taxing times
  • Article
  • 11 Oct 2024
  • ICAEW Insights
Our chart this week is on the 15 taxes that make up 84% of total receipts, looking at the challenges the Chancellor faces in her hunt to find more money.
Exclusive Healthcare Community: 2024 round up
  • Article
  • 07 Oct 2024
  • Sam Edwards
A reflection on 2024, what the Community has achieved and what’s in store for 2025.
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Chart of the week: Public spending
  • Article
  • 04 Oct 2024
  • ICAEW Insights
Our chart this week breaks down public spending ahead of the Autumn Budget later this month, illustrating what makes up the £1.2tn budget for the current financial year and the £1,476 per month that it costs each of us on average to pay for welfare, health and social care, education, other public services and debt interest.
A team of people at their desks working on their laptops
How should the UK foster a climate for smarter regulation?
  • Article
  • 30 Sep 2024
  • ICAEW Insights
With global economic challenges mounting, ICAEW’s roundtable event brought together expert views on how the regulatory landscape should adapt to promote sustainable growth.
A pair of hands typing on the laptop keyboard
NAO: how process disruption impacts laying of accounts
  • Article
  • 26 Sep 2024
  • ICAEW Insights
Debbie Edwards, a Senior Audit Manager in the National Audit Office’s Financial Audit Practice and Quality Team, explains how elections and the pandemic impacted the timing of the laying of accounts.
Tax news in brief 25 September 2024
  • Article
  • 25 Sep 2024
  • ICAEW Insights
Highlights from the broader tax news for the week ending 25 September 2024, including: new guidance from HMRC on transfer pricing and VAT compliance; updated HMRC bank details for some taxes and duties; and a reminder from HMRC to register for self assessment by 5 October 2024.
A pair of hands typing on the laptop keyboard
Tough choices ahead as public spending continues to rise
  • Article
  • 23 Sep 2024
  • ICAEW Insights
Year-to-date deficit is the third highest for August since monthly records began.
Chart of the week: UK pension funds
  • Article
  • 20 Sep 2024
  • ICAEW Insights
Our chart this week is on the £2.0tn market value of funded occupational pension schemes on 31 March 2024 and how their assets are invested.
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Chart of the week: UK long-term fiscal projections
  • Article
  • 13 Sep 2024
  • ICAEW Insights
The OBR’s latest fiscal risks and sustainability report projects that public debt could reach 274% of GDP in 50 years’ time, or 324% if likely economic shocks are included.
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Chart of the week: Eurozone government bond yields
  • Article
  • 06 Sep 2024
  • ICAEW Insights
Our chart this week is on the cost of government borrowing in the Eurozone, which on 4 September ranged from 2.17% for Danish 10-year bonds up to 3.59% for their Italian equivalents.
Tax news in brief 21 August 2024
  • Article
  • 20 Aug 2024
  • ICAEW Insights
Highlights from the broader tax news for the two weeks ending 21 August 2024, including updates on: requesting overlap relief information from HMRC; the abolition of land transaction tax multiple dwellings relief; and further changes to the legislation providing for the abolition of the pensions lifetime allowance.
A person holding a tablet device displaying various graphs
What role should AI serve in the pensions sector?
  • Article
  • 30 Jul 2024
  • ICAEW Insights
Amid healthy market conditions, the pensions industry is well placed to expand its use of AI, according to PwC. But there is significant complexity to overcome.
Houses of Parliament
Data, skills and building trust: what’s in the King’s speech?
  • Article
  • 18 Jul 2024
  • ICAEW Insights
A bumper King’s speech marked the state opening of parliament, containing 40 bills. These are the most relevant for business.
ICAEW and LGPS Scheme Advisory Board launch LGPS informer
  • Article
  • 06 Jun 2024
  • Public Sector
ICAEW and the LGPS Scheme Advisory Board are pleased to publish a Local Government Pension Scheme Informer.
HMRC publishes over 100 FAQs on lifetime allowance abolition
  • Article
  • 29 Apr 2024
  • ICAEW Insights
HMRC has published an update for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance (LTA).
HMRC publishes extra guidance on lifetime allowance abolition
  • Article
  • 09 Apr 2024
  • ICAEW Insights
HMRC has published additional guidance for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance.
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Chart of the week: Whole of Government liabilities
  • Article
  • 05 Apr 2024
  • ICAEW Insights
Our chart this week looks at how liabilities in the UK’s public balance sheet have risen significantly over the five years to March 2022.
man standing at the top of a mountain looking out over mountain ranges peaks at sunset prink orange sky
Exclusive Ways to tackle tax threshold unfairness
  • Article
  • 04 Apr 2024
  • Patricia Mock and Sally Campbell
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.
ICAEW technical updates: March 2024
  • Article
  • 26 Mar 2024
  • ICAEW Insights
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
More guidance released on lifetime allowance abolition
  • Article
  • 11 Mar 2024
  • ICAEW Insights
HMRC has responded to feedback on the abolition of the pension lifetime allowance rules. Detailed guidance has been published and amendments will be made to the legislation, effective from 6 April 2024.
ICAEW technical updates: February 2024
  • Article
  • 28 Feb 2024
  • ICAEW Insights
This month’s top stories include HMRC’s u-turns on double cab pickups, HMRC publishes more guidance on the pensions lifetime allowance, and the Finance Act 2024 receiving Royal Assent.
How to tax interest paid by public service pensions schemes
  • Article
  • 26 Feb 2024
  • ICAEW
HMRC has provided guidance on the tax treatment of interest paid under the public service pensions remedy.
HMRC publishes more guidance on the pensions lifetime allowance
  • Article
  • 20 Feb 2024
  • ICAEW
HMRC’s latest lifetime allowance guidance newsletter includes FAQs and more information on transitional tax-free amount certificates.
Displaying 1-40 of 97 results
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