.png)
.png)
Dalriada Trustees Limited (as administrator of the Grosvenor Parade Pension Scheme and others); D Oades; J Donaghy-Sutton (TC8771)
The appeal concerned Ark pension schemes namely the Grosvenor Parade Pension Scheme the Cranborne Star Pension Scheme the Lancaster Pension Scheme the Portman Pension Scheme the Tallton Place Pension Scheme and the Woodcroft House Pension Scheme.
The schemes operated a pensions reciprocation plan (PRP) which was designed to allow members access to the value of their pension capital before retirement without triggering an unauthorised payment which would lead to tax charges under FA 2004 s 208.
In essence the plan involved a ‘maximising pension value arrangement’ (MPVA) whereby an individual transferred their pension funds into one of the Ark schemes and received an MPVA loan from another of the Ark schemes.
In May 2011 due to its concerns that the plan was being used for pensions liberation the Pension Regulator appointed Dalriada to act as an independent trustee. It...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
