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Pensions tax

Sunday, 22 April 2018
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Tax affects almost all aspects of pension scheme operations, from investment to accrual and benefit design. Reductions in the annual and lifetime allowances, and the complexities associated with individual and fixed protection, mean more members are now being affected by pensions tax, and in a larger variety of ways. This drives a need for more creative solutions.

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Image for Daniel Gerring

Head of Pensions

Daniel Gerring

Email Daniel
+44 (0)20 7295 3341

Daniel is Head of Pensions at Travers Smith. He advises on all aspects of pensions law, acting for trustees and employers as well as parties to corporate activity.

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Our lawyers are specialists in helping schemes and employers deal with the growing complexity in this area. We have acted for the sponsors of some of the UK's largest pension funds, helping them develop flexible and innovative new benefit structures and responses to the "freedom and choice" tax reforms for defined contribution benefits. We are skilled in assisting employers, trustees and scheme administrators with traditional pension taxation issues as well, such as HMRC investigations, tax compliance for benefit payments and errors, and liability management exercises

We field specialists with deep experience in the developing field of pension scheme VAT. Our lawyers sit on industry groups that have actively engaged with HMRC following the CJEU's ATP and PPG decisions, and have been sought after by employers and trustees looking to stay ahead of the game in this area. We advise pension scheme trustees in relation to tax implications on a range of investment issues including on investment in private equity and other limited partnerships, co-ordinating US tax advice, forming new investment structures for pension scheme pool proposals (including local government schemes), and investments in infrastructure and other major projects.

"They are always easy to work with and very thorough and professional."

Chambers UK, 2017 

Work examples

  • Advising a number of trustees on the potential impact of recent UK and European VAT case law, including PPG, ATP, Wheels and United Biscuits.
  • Advising trustees on the implications of VAT grouping with the employer group, including the risk of joint and several liability.
  • Advising GLIL Infrastructure LLP on the tax implications of its further fund-raising round, which has increased its total deployable capital to £1.275billion.
  • Advising trustees how to go about registering for VAT, and considering when the reverse charge mechanism might arise on services provided by non-UK advisers/fund managers etc.
  • Advising a company providing investment management advice to trustees of DC schemes on whether the services it provides are VAT exempt as a consequence of the ATP case.

Industry appointments

We participate in a wide range of pensions industry groups.


Our Team

Emily Clark

Tax
Email Emily
+44 (0)20 7295 3393
View full profile.

Susie Daykin

Pensions
Email Susie
+44(0)20 7295 3247
View full profile.

Daniel Gerring

Head of Pensions
Email Daniel
+44 (0)20 7295 3341
View full profile.

David James

Pensions
Email David
+44 (0)20 7295 3087
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Dan Naylor

Pensions
Email Dan
+44 (0)20 7295 3454
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Paul Stannard

Pensions
Email Paul
+44 (0)20 7295 3000
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Philip Stear

Pensions
Email Philip
+44 (0)20 7295 3335
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Richard Stratton

Tax
Email Richard
+44 (0)20 7295 3219
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Mahesh Varia

Head of Incentives & Remuneration
Email Mahesh
+44 (0)20 7295 3382
View full profile.
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