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HMRC wins landmark non-cash pension tax relief ruling

HMRC has won a landmark case at an Upper Tax Tribunal, which has ruled that tax relief cannot be claimed on ‘in-specie’ or non-cash contributions to personal pensions, potentially opening the way for the tax authority to reclaim millions.

HMRC wins landmark non-cash pension tax relief ruling
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MRC wins on pension tax relief ruling

‘In-specie’ contributions to personal pension schemes refer to non-cash assets, such as shares or commercial property which are transferred into a self invested personal pension (SIPP) without being converted into cash first.

Read more at the Accountancy Daily

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