Standard Life SIPP investors wait on HMRC for Catalyst claims progress

The Financial Services Compensation Scheme (FSCS) - which began looking into Catalyst claims last December - has said it is continuing to work with Standard Life to ensure that its SIPP investors with eligible claims are not subject to any adverse tax liabilities. A tax charge may be triggered if the FSCS makes recoveries in relation to their claims and pays those recoveries directly to the members, rather than back into their SIPP. The FSCS and Standard Life have jointly written to HMRC asking for clarification on the tax issues, and expect HMRC to provide its response in October. ...