Pensions problems could influence tax

Mon, 19 May 2008

Pensions experts have reported a new trend in the pension scheme sector that could see the government lose out on billions of pounds worth of tax . More and more final salary pension schemes are being sold off to third parties to lower exposure and liabilities amongst companies . However, short-falls mean that companies are ploughing money into their schemes before selling, costing the government dear.

The problem, pensions experts say, appears to be getting worse. According to reports, more and more companies are pushing funds into pension schemes to make up shortfalls. These funds duck corporation tax, meaning significantly less tax for the treasury.

Furthermore, pensions experts say that the problem will get much worse before it gets better.
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