Displaying items by tag: Sipp

The Serious Fraud Office has secured an increased confiscation order against former stockbroker and convicted Ponzi scheme fraudster Nicholas Levene.

This last 10 months has been difficult for everyone, one way or another, but for pension schemes with property it has been a particularly difficult time.

I spent several hours one morning this week poring over my old G60 manual to help work out some ‘scheme specific protected tax-free cash’ calculations in respect of some pre-2006 occupational pension scheme benefits for an adviser.

It seems as if the SIPP sector has been waiting for the judgments on a number of court cases in recent years. As we get clarity on one, we still await another and these can have implications for not only how a SIPP firm operates, but on advisers and their clients.

Options Pensions has launched a Sharia SIPP in partnership with Islamic investment group Wahed Invest.

The recent judgment in the HMRC v SIPPchoice case, published in May, was in relation to tax relief on in-specie contributions. This case has been ongoing for a number of years and it would appear that we finally have resolution.

As the UK moves into the 7th week of lockdown and the world has changed beyond all recognition, it has also been a time of reflection.

The Financial Services Compensation Scheme received 4,100 extra SIPP and pensions claims 2019/20 than it expected, resulting in increased cost of £3.9m.

It is hard to believe that the first SIPP was sold over 30 years ago.

It is quite hard to believe that we have just welcomed in the start of a new decade as 2020 begins.