SIPP and SSAS provider body the Association of Member-Directed Pension Schemes (AMPS) has warned that an increasing number of Small Self-Administered Schemes (SSAS) approvals are being rejected by HMRC.

New figures published today by HMRC have revealed that inheritance tax receipts for 2023/24 climbed £400m to a new record £7.5bn.

HMRC has said that it intends to issue a second set of regulations changing the legislation governing the lifetime allowance abolition.

A tax avoidance promoter whose schemes were used by locum doctors and nurses faces a £900,000 penalty for failing to co-operate with HMRC.