Changes to taxation of foreign pensions – Finance (No 2) Bill 2017

The LITRG expresses concern about the new sweeping powers given to HMRC to make regulations amending and altering swathes of this primary legislation as it does not seem appropriate that the department administering the law should have such extensive ability to amend it without positive approval from Parliament. We are also worried about the total abolition of the 90% rule due to variations in exchange rates and bank charges as well as the further unnecessary burden on recipients of overseas pensions of filling out an annual self assessment return.