Sipps Roundtable: It's not as good as it could be, but a lot better than it was.

Pensions Management, May, 2006

Matthew Craig, editor-in-chief, Pensions Management: Given what's gone on in the past two years around Sipps and A-day, what are the main concerns at the moment?

John Bradley, partner, John Bradley Financial Services; chairman, Association of Member-directed Schemes: I have a lot of concerns at the moment, but I think we could narrow those down to just two main issues.

One is the clarity of the legislation and the guidance coming out of HM Revenue and Customs (HMRC). I suspect that a lot of people have still to grasp the fact that the principle of the new regime is totally different. For 30 years, we've had discretionary legislation and we've relied upon HMRC to come up with practice for that, but they are persuadable because, with practice as opposed...

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