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Insolvency Service: Drawdown pensions out of scope for debt collectors

Savers with drawdown accounts will not be forced to increase the amount of income they take in the event of bankruptcy, the Insolvency Service has confirmed. In March, the Government said “undrawn” pensions were out of debt collectors’ reach. But the definition of undrawn was not made clear. However, in an email seen by Money […]

HMRC amends pension reclaim form

HMRC is to change the wording of one of its new tax forms for people reclaiming overpaid tax on pension withdrawals, after confusion over who could use it. Form 55 is to be updated because it currently implies it should only be used if “you’ve only taken one payment and do not intend to take […]

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Heiress convicted of HSBC tax fraud

The heir to the Nina Ricci perfume and fashion fortune has been convicted of tax fraud by hiding millions in an offshore HSBC account. The BBC reports a Parisian court has sentenced Arlette Ricci to a year in prison, plus given an additional two-year suspended sentence. Ricci was also ordered to pay a fine of […]

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