Pension scams

HMRC and the Pensions Regulator are publicising the availability of revised leaflets which warn people of the consequences of pension liberation scams.

HMRC and the Pensions Regulator (TPR) are publicising the availability of revised leaflets which warn people of the consequences of pension liberation scams.

HMRC are advising that individuals with pension savings continue to be targeted by unscrupulous companies encouraging them to access their pension savings early. Options are given for personal loans, cash incentives and one-off pension investments to encourage people to invest in these pension scams. Pension savers involved in these pension liberation scams face significant tax consequences.

HMRC has worked closely with TPR on publishing a revised set of leaflets highlighting the serious downsides of pension scams. The leaflets provide guidance on what trustees and scheme members can do to reduce the risk of becoming involved in these scams, and the tax impact of releasing pension funds early using these types of arrangements.

Internet links: HMRC news TPR website

Have we convinced you yet?

Please feel free to get in touch via phone email or our quick contact form.

We offer initial free consultations simply contact us to find out more.

ICAEW logo Xero logo ICAEW Accredited for Probate logo