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ICAEW on Pensions

The pensions landscape is undergoing radical change at present, with wave after wave of new legislation. On this page you can access the latest guidance, articles, reports, technical releases, helpsheets, representations and webinars published by ICAEW in this area.
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Articles

Latest ICAEW articles and insights on pensions.
HMRC publishes extra guidance on lifetime allowance abolition
  • 09 Apr 2024
  • ICAEW Insights
HMRC has published additional guidance for pension scheme administrators on a range of issues, including the abolition of the lifetime allowance.
Chart of the week: Whole of Government liabilities
  • 05 Apr 2024
  • ICAEW Insights
Our chart this week looks at how liabilities in the UK’s public balance sheet have risen significantly over the five years to March 2022.
man standing at the top of a mountain looking out over mountain ranges peaks at sunset prink orange sky
Exclusive Ways to tackle tax threshold unfairness
  • 04 Apr 2024
  • Patricia Mock and Sally Campbell
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.
New guidance on applying for help with paying IHT
  • 02 Apr 2024
  • ICAEW Insights
HMRC has published guidance on applying for a grant on credit and on recent updates to tax rules and processes relevant to trusts and estates.
ICAEW technical updates: March 2024
  • 26 Mar 2024
  • ICAEW Insights
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
More guidance released on lifetime allowance abolition
  • 11 Mar 2024
  • ICAEW Insights
HMRC has responded to feedback on the abolition of the pension lifetime allowance rules. Detailed guidance has been published and amendments will be made to the legislation, effective from 6 April 2024.
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Reports

Latest ICAEW reports and thought leadership on pensions.
ICAEW Manifesto 2024
  • Thought leadership report
  • Feb 2024
  • PDF (4,377kb)
ICAEW's manifesto draws on the insights and expertise of our members in making a call to action for the next government. It sets out our vision for a resilient future UK economy that is: productive, highly skilled, sustainable, innovative, resilient, trustworthy and leading on trade.
ICAEW Manifesto 2024
  • Thought leadership report
  • Feb 2024
  • PDF (4,377kb)
ICAEW's manifesto draws on the insights and expertise of our members in making a call to action for the next government. It sets out our vision for a resilient future UK economy that is: productive, highly skilled, sustainable, innovative, resilient, trustworthy and leading on trade.
ICAEW Traffic Light Guide to Investment Business Activity
  • Report
  • Nov 2021
  • PDF (384kb)
  • ICAEW
This guide was reissued in November 2021.
Public to Private Transactions Best-Practice Guideline 68
  • Report
  • Sep 2021
  • PDF (2,482kb)
  • Corporate Finance Faculty, PwC and Travers Smith
This best-practice guideline, devised and commissioned by ICAEW’s Corporate Finance Faculty and published with PwC and Travers Smith, looks at a hugely important type of corporate transaction. Public to private (‘PTP’) deals have continued to grow in significance in recent years as a vibrant part of the M&A market.
Sustainable public finances and government accounting in Europe
  • Report
  • Dec 2019
  • PDF (3,937kb)
  • ICAEW/PwC
A collection of independent essays and an ICAEW/PwC call for EU reform.
Principles before standards: The ICAEW's 'N' series of recommendations on accounting principles 1942-1969
  • Report
  • Sep 2019
  • PDF (966kb)
  • Financial Reporting Faculty
This Information for Better Markets report looks at the regulation of financial reporting, considering how best to tackle current problems by looking back to see what solutions were adopted in the past. First published September 2009, reprinted 2014.
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Technical releases

ICAEW technical releases are a source of good practice guidance on technical and practice issues relevant to the work of ICAEW Chartered Accountants, accountants and other professionals. The ICAEW Library & Information Service maintains a complete collection of all Technical Releases published since 1972. You can browse technical releases by topic or search our archive to find a particular release.
Exclusive TAXguide 03-24 Payroll rates and allowances 2024/25
  • Technical release
  • Apr 2024
  • PDF (541kb)
  • Ian Holloway
TAXguide 03-24 Payroll rates and allowances 2024/25
Exclusive TAXguide 01/23: Payroll rates, allowances and thresholds in 2023/24
  • Technical release
  • Apr 2023
  • PDF (370kb)
TAXguide 01/23: Payroll rates, allowances and thresholds in 2023/24
Exclusive TAXguide 01-22 Payroll rates thresholds allowances 2022-23 amended following Growth Plan NIC cha
  • Technical release
  • Oct 2022
  • PDF (376kb)
TAXguide 01-22 Payroll rates thresholds allowances 2022-23 amended following Growth Plan NIC
Auditor remuneration technical release - TECH 01/22
  • Technical release
  • Apr 2022
  • PDF (482kb)
Updated guidance on the disclosure of auditor remuneration for the audit of accounts and other (non-audit) services which supersedes the guidance set out in TECH 14/13.
Exclusive TAXguide 02/22: Basis Period Reform
  • Technical release
  • Apr 2022
  • PDF (437kb)
  • Richard Jones
This TAXguide provides details of the reform to the taxation of unincorporated businesses introduced through FA 2022 to take effect from April 2024. (The TAXguide has also been updated for more recent changes and is up to date as of 10 October 2023.)
Exclusive TAXguide 01-22 Payroll rates, thresholds and allowances 2022-23, amended following the Spring Statement and pensions TAA
  • Technical release
  • Apr 2022
  • PDF (358kb)
PAYE rates, thresholds, allowances, etc for employers in 2022/23 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
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Helpsheets and guides

Helpsheets are prepared by ICAEW technical specialists to assist you in your day-to-day work. These helpsheets are restricted to logged-in ICAEW members and students.
Exclusive Implications for pension schemes being included in the FRC's OEPI definition
  • Helpsheets and support
  • Dec 2020
  • PDF (199kb)
ICAEW recently sought clarification from the FRC regarding aspects of the OEPI definition and permitted non-audit services as they relate to UK pension schemes, some of which are covered in the FRC's revised implementation guidance issued in November 2020. This guide explains the definition of ‘members’ and ‘assets’, clarifies whether the pension scheme is a ‘controlled undertaking’ where there is a corporate trustee company, covers prohibition of non-audit services to the sponsoring employer relating to pension scheme assets, liabilities or funding, and provides clarification regarding Master...
Pension scheme reports and financial statements, and related matters in the context of the COVID-19 pandemic
  • Helpsheets and support
  • May 2020
  • PDF (754kb)
New guidance from ICAS, ICAEW and PRAG on the implications of COVID-19 for pension scheme financial reports and audit.
Occupational pension schemes: assurance about internal controls
  • Helpsheets and support
  • Mar 2019
  • Business Law
This ICAEW guidance aims to address any expectation gaps around assurance in the pension schemes sector. In particular, it looks at how internal and external audit can play a part in the governance of UK pension arrangements.
Exclusive SSAS pension schemes
  • Helpsheets and support
  • Jul 2018
  • Technical Advisory Services
Technical helpsheet issued to help members determine which accounting standard should be used when preparing the accounts of a small self-administered pension scheme (SSAS pension scheme).
GDPR and pension funds
  • Helpsheets and support
  • May 2018
  • PDF (165kb)
  • Business Law, Tech Faculty
This guide outlines the issues the General Data Protection Regulation (GDPR) raises for the trustees of pension funds, including their dealings with administrators and auditors. It is part of a series designed to answer the questions that members have been asking about the GDPR.
Exclusive Engagement letters helpsheet part 2 J guidance notes
  • Helpsheets and support
  • Oct 2017
  • DOCX (86kb)
Supplementary schedule to the main engagement letter helpsheet. Provides sample wordings to help you draft engagement letters. Covers the auto-enrolment aspects of payroll services.
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Representations

ICAEW makes representations to policymakers and regulators on behalf of the accountancy profession explaining how changes to policy and legislation will impact day-to-day practice. You can read all the latest consultations and representations, view archived representations from ICAEW to regulators or search our archive to find a particular representation.

ICAEW REP 036-24 Consultation on Statement of Strategy
  • Representation
  • Apr 2024
  • PDF (178kb)
A representation dated 16 April 2024 to a consultation published by The Pensions Regulator on 5 March 2024.
ICAEW REP 006-24 Finance Bill 2023-24 - Clause 14: Provision in connection with abolition of the lifetime allowance charge, and schedule 9 pensions
  • Representation
  • Jan 2024
  • PDF (146kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 090-23 Abolishing the pensions lifetime allowance
  • Representation
  • Sep 2023
  • PDF (147kb)
A representation dated 12 September 2023 to a consultation published by HMRC on 18 July 2023.
ICAEW REP 086-23 Pensions Reform Consultations 2023
  • Representation
  • Sep 2023
  • PDF (180kb)
A comment dated 5 September 2023 on possible reforms to the UK’s pensions regime outlined in the speech by the Chancellor of the Exchequer his Mansion House speech on 10 July
ICAEW REP 025-23 Defined benefit funding code consultation
  • Representation
  • Mar 2023
  • PDF (350kb)
A representation dated 24 March 2023 to a consultation published by The Pensions Regulator on 16 December 2022.
ICAEW REP 007-23 FRC draft 3-year plan
  • Representation
  • Jan 2023
  • PDF (236kb)
  • Public Policy
A response dated 27 January 2023 to a consultation published by thee Financial Reporting Council on 16 December 2022.
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Webinars and podcasts

Payroll and rewards 2024 webinar slides
  • Webinar
  • Apr 2024
  • PDF (1,677kb)
Slides accompanying the Tax Faculty Payroll and Rewards webinar, broadcast on 10 April 2024.
Exclusive Could you take advantage of new legislation and fast forward your pension planning?
  • Webinar
  • Nov 2023
  • ICAEW
An ICAEW Personal Financial Planning Community webinar on planning for your pension.
Pension and taxation – a close look at the impact of legislative updates
  • Webinar
  • Jun 2023
  • ICAEW
A close look at the impact of legislative updates, the tax efficiency of pensions, the impact of pensions on other benefits and more.
UK nationals retiring or moving to the EU in a post-Brexit world
  • Webinar
  • Sep 2021
  • ICAEW
In this 2020 webinar, Jason Porter from Blevins Franks discusses the overall position of UK nationals visiting or moving to the EU before 31 December 2020 and what their position would be post-Brexit. Topics covered will include Withdrawl Agreement rules, legal residency, healthcare, and UK state pension.
TAXbite: Check your NIC record!
  • Webinar
  • Nov 2019
  • Tax Faculty
An introduction to checking your national insurance contributions.
Pensions deconstructed defined benefits transfers
  • Webinar
  • May 2019
The ‘Pensions Freedoms’ changes introduced in 2015 and the substantial value held in defined benefit pensions (DB) schemes has led to more people seeking advice on whether they should transfer their DB pension pots to a defined contribution (DC) arrangement. For most people this is a complex and significant decision that presents a number of risks and challenges. The Financial Conduct Authority (FCA) has also expressed concern that many financial advisers are not doing this well.

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