Beware of the FATCA !

17 January 2012 The legislation covering the US Foreign Accounts Tax Compliance Act (FATCA) was drafted in 2010 with the intention of facilitating the identification of US taxpayers having accounts with foreign financial institutions and non-financial foreign entities. Its aim is to promote anti-avoidance by having managers of these entities notify the Inland Revenue Service of the identity of American nationals who are beneficiaries and, in the absence of such notification or a null return, custodians holding US domiciled investments would be required to applying a swingeing 30% withholding levy on payments to that entity.

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Inflation and Defined Benefit Pension schemes

31 October 2011 October saw the release of notably high inflation figures – a two year peak for CPI and a twenty year peak for RPI – coinciding with the setting of pension increases for UK defined benefit pension schemes with September year-end. We provided a brief update at the time of release here but here present a more detailed paper on the direct and indirect impacts of inflation on these schemes. Inflation provides a good example of a crucial factor that affects both sides of the DB scheme balance sheet and our response as pension professionals should therefore bear…

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  • Author: Martin Veasey
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