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As previously reported the CIOT responded to the first set of draft clauses published on 5 December last year. A further draft of the legislation was published on 26 January.

For the unrepresented individual, understanding and dealing with financial matters can be a minefield.

The pension flexibilities introduced in April 2015 gave savers the ability to access defined contribution pensions as best suits their needs.

Following our article in July 2016’s Tax Adviser, we have had many contacts from members raising different points.

Let’s cut to the chase – has the consultation process worked? Has HMRC listened? Well, yes and no.

Clause 6 of the draft Finance Bill 2017 introduces a new ITEPA 2003 s 308C, providing an exemption from the taxable benefit rules for up to £500 for employer-funded pension advice.

From 2018/2019 onwards the scope of the exemption for termination payments will be narrowed so that non-contractual payments in lieu of notice (PILONs) will be taxable (to the extent they equate to

Clause 11 and Schedule 3 of the draft Finance Bill 2017 seek to remove the ‘90% rule’ for taxing foreign pension income in the UK.

The CIOT has submitted comments on clause 18 of the draft FB 2017 provisions setting out changes to business investment relief (BIR).

LITRG and ATT have each submitted a response on the draft legislation for Finance Bill 2017 (Clause 19 and Schedule 5).