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Revenue in U-turn over SSAS whistleblow proposals

The Inland Revenue has backed down on controversial proposals to force trustees of small self-administered schemes to whistleblow on their sch-eme members.

The Revenue had proposed that SSAS trustees should be forced to shop their members if they discovered any breaches of the scheme rules such as making bigger withdrawals from the fund than all-owed under the rules.

SSAS providers and the Association of Pensioneer Trustees have been lobbying for the recommendations to be dropped, saying it would leave trustees open to being sued if the allegations were found to be untrue.

Following industry resp-onses to the proposals, the Revenue has dropped the requirement. Whistleblowing on irregularities will remain the responsibility of the scheme&#39s actuary and accountants.

APT chairman David Seaton says: “We are del-ighted the Inland Revenue has agreed to drop the whistleblowing requirement for trustees. It could have been a huge problem because trustees would be potentially liable to being sued by the scheme.”

A Revenue spokesman says: “We dropped the proposals in the face of almost unanimous opposition. We are introducing alternative measures and we will see how they work out.”


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Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


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