Pensions analysis: The First-tier Tribunal dismissed the appeals of two pension scheme administrators against penalties imposed by HMRC for failing to comply with Information Notices issued to the appellants under Schedule 36 to the Finance Act 2008 (FA 2008). From the evidence before the tribunal, neither of the appellants took objectively appropriate steps to consider whether it was reasonable to rely on the advisers and the advice provided. Neither of the appellants took reasonable care to check that they could rely on the advice being provided in circumstances where a reasonable and prudent taxpayer would have asked questions given the information being provided to them. Their actions were not those of objectively reasonable reliance on advice. Written by Scott Redpath, barrister at Temple Tax Chambers.
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