Spotlight 2017/05 - Budget 2017
On the 8 March 2017, the Chancellor Philip Hammond delivered his first Budget speech. One surprise announcement is the introduction of a new tax charge of 25% on transfers to QROPS requested on or after 9 March 2017, unless both the individual and the pension savings are in the same country, both are within the European Economic Area (EEA) or the QROPS is provided by the individual’s employer.
Spotlight 2017/05 summarises the main announcements that affect pensions, employee benefits, and personal and company taxation.
Please email CEBTechnicalTeam@capita.co.uk should you have any questions.
Our full-service one-stop package has been developed with a particular focus on small to medium-sized employer-sponsored defined benefit (DB) pension schemes.Read more