The Friday Edition
A biweekly newsletter for international tax professionals
What’s New This Week?
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Contract-based U.K. personal pension schemes
Hello, it’s Phil Hodgen. Welcome to the Friday Edition, your every-other-week international tax missive. New and Upcoming Distant Horizons Let’s get back to SIPPs, shall we? A reader (thanks Melanie M.) was kind enough to comment that a lot of U.K. personal pension schemes are not, in fact, trust-based. Meaning? The pension assets are not held in a trust. This has implications for how the Internal Revenue Code classifies and taxes U.S. members of these schemes, as well as the reporting requirements. An example Here’s the excerpt of what Melanie sent me from a sample document: You can find the…