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It seems as if the SIPP sector has been waiting for the judgments on a number of court cases in recent years. As we get clarity on one, we still await another and these can have implications for not only how a SIPP firm operates, but on advisers and their clients.

HMRC has reported that £2.3bn was withdrawn from pensions flexibly in Q2 - a 17% fall year-on-year from the £2.8 billion seen in Q2 2019.

The recent judgment in the HMRC v SIPPchoice case, published in May, was in relation to tax relief on in-specie contributions. This case has been ongoing for a number of years and it would appear that we finally have resolution.

The Government is to include financial advisers in its sweeping review of the tax advice market.

It may have escaped your notice but the end of February marks the 30th anniversary of the first SIPP being established.

HMRC says that a ‘record breaking’ 11.1m taxpayers beat the 31 January tax return deadline but 958,000 still missed the cut off date.

Pension savers who were overtaxed on Pension Freedom withdrawals have been repaid £535mm by HMRC since 2015. 
New figures published today by HMRC show that a total of £30bn has been withdrawn ‘flexibly’ from pensions, taking advantage of the new ‘pension freedoms’ introduced in 2015. 
HMRC has disciplined nearly more than 90 members staff for misuse of email systems, social media accounts and telecommunications devices over the last two financial years, according to official figures.
Pension savers lost out on £600m last year according to HMRC personal pension statistics released today.
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