A special scheme covering members who have lost pensions where the employer has become insolvent but who are not covered by the Pension Protection Fund.
Finance Act(s) (esp FA 2004)
Financial Reporting Standard (17)
Financial standard requiring scheme valuation on a fair value basis and recognition and disclosure in the reporting company accounts.
Free-standing additional voluntary contributions
Funded Unapproved Retirement Benefits Schemes - a scheme not approved (under the Pre A Day regime). They were effectively replaced by Employer Financed Retirement Benefits Schemes (EFRBS) from April 2006.
In a defined benefits scheme, the pensionable salary used to calculate benefits. FPS may, for example, be calculated as an average of the member's pensionable salaries over a period of years prior to leaving, retirement or death.
Finance Act 2006, contained some of the most wide-ranging changes to the taxation of trusts for decades. Most had immediate effect but there was also a transitional period for certain changes.
Since 2015, UK Capital Gains tax now extends to non-residents if they dispose of UK residential property.
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