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The beneficiary should have completed their own nomination form, so that the scheme administrator can take account of it when using its discretionary powers to pay benefits as follows.

With the tax year end just over two weeks away, clients looking to make contributions to their SIPP for the current tax year (2018/19), must have established a Dentons SIPP and provided a valid means of payment to Dentons main office in Godalming, by 5 April.

Advisers must plan well in advance where their clients intend to establish a new Small Self-Administered Scheme (SSAS).

​HMRC’s stance not to register schemes with dormant employers has been topical of late but in fact, HMRC have always had the power to request information and documents to enable them to consider fully new scheme registrations under powers contained in Section 153A of the Finance Act 2004.

The lack of tinkering with pensions in the recent budget has been welcomed by the industry. Surprisingly pensions were not even mentioned despite speculation beforehand that ‘pensions could be a budget victim’ to help pay for the promised increased spending for the NHS.

With the budget on Monday 29 October, we take a look at some possible predictions and how pensions may be affected.

The importance of a client's correct understanding of benefits payable on death and therefore the correct completion and lodging with their pension provider of an expression of wish/form of nomination cannot be understated.

Advisers are reminded that the 2018 Budget has been set for Monday 29th October. The earlier than usual date has been explained as being necessary to “clarify tax, spending and other financial decisions” before a final Brexit agreement can be negotiated.

We offer the freedom for clients to manage their own commercial property. This can have significant cost benefits for clients but it is essential that they understand what is involved and undertake the necessary property management functions.

A recent case has highlighted the advantages that creative use of a Small Self-Administered Scheme can offer.

Salary sacrifice or the sacrifice of earned bonus is probably the most tax-efficient way of getting money into a pension plan especially if the employer is prepared to augment the bonus given up by the national insurance contribution that would have been payable on it.

Joint property purchases do not require each participant to Joint property purchases do not require each participant to have an equal interest in the property, so the arrangement has become more frequent because of its flexibility and increases in commercial property prices.

Although as far as economic cycles go we have seen far worse, advisers looking for alternative sources of finance for their corporate clients often approach us.

Recent trade press has reported widely on the issue of the Financial Services Compensation Scheme declaring three, now defunct SIPP operators, as in default based on a failure to carry out any due diligence on underlying investments, which subsequently failed. So are SIPPs off the hook?

We will walk through a scenario where a SIPP is used to buy the client's shop premises with a residential flat above.

A number of factors, including the Annual Allowance, govern the amount of contributions to an individual’s pension schemes in any tax year that could be eligible for tax relief, and individuals should seek advice before contributions are paid.

With over 30 years' experience at Dentons, Martin Tilley reviews the changes and growth in the self-invested pension market.

Pensions Ombudsman (PO) and Financial Ombudsman (FOS) memorandum of understanding clarification.

Although the increase in the LTA for tax year 2018/19 is relatively small, the timing and drawing of benefits could prove important when managing and minimising clients' tax charges.

Salary sacrifice reduces the employee's income meaning they pay less tax and NIC.It can also have other benefits such as a reduction in income so that child benefit or personal income tax allowances can be retained.

George and Dennis Gibley have a problem and have approached their financial adviser. The brothers' company has turned in a record year and profits will exceed £150,000 resulting in a corporation tax bill of around £28,500.

The pensions industry has now received clarification from Revenue Scotland on the treatment of in specie transfers of Scottish property between registered pension schemes.

Dentons achieve 5 star service award!

Dentons continues to be an expert on commercial property with over 40% of our clients holding one or more commercial properties within their SIPP or SSAS.

Pension freedoms have opened the floodgates for scammers and conmen to prey on people who are keen to access their pensions. They are using increasingly sophisticated and convincing ways to ‘con’ people out of these savings.

We recognise how important it is for you to be able to get information quickly about your SIPP and are continually finding ways to utilise technology for your benefit.

Changes in the SIPP market and new rules around annual allowance and tapering mean property purchase through a SIPP is no longer as simple as it was.

Many providers have recently announced a dramatic increase in their SSAS fees which has resulted in more advisers switching their SSAS clients to Dentons.

We urge advisers to participate in the FCA's Retirement Outcomes Review following the recent Interim Report.

SIPPs holding assets deemed as ‘non-standard’ now have to be recorded carefully by the SIPP operator and these impact on the required level of a SIPP operator's capital adequacy provision. As a result a number of SIPP providers are either stopping or restricting the level of non-standard assets they will accept.

'Baby boomers' have now started to, and will, for the next twenty or so years reach the end of their working lives. Britain will have a larger proportion of its population at, or in retirement, than ever before and as this group of individuals reaches retirement, crucial life changing decisions need to be made.