Pension Schemes - news
Contents
2008
1 December
Pension Schemes: Draft Regulations
We have removed the draft regulations as The Taxation of Pension Schemes
(Transitional Provisions) (Amendment) Order 2008 (SI 2008/2990) was laid
on 18 November.
18 November
Qualifying Recognised Overseas Pension Schemes (QROPS)
(PDF 81K)
Pension Schemes Services (PSS) has today published an update to the QROPS
list.
6 November
Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 79K)
Pension Schemes Services (PSS) has today published an update to the QROPS
list.
Relief at Source form APSS103 (PDF 55K)
We have made a correction on page 2 of the form which now reads go to box
5.1.
4 November
Manuals: Registered
Pension Schemes Manual
Recent updates to Registered Pension Schemes Manual have today been published.
23 October
Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 80K)
Pension Schemes Services (PSS) has today published an update to the QROPS
list.
7 October
Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 79K)
Pension Schemes Services (PSS) has today published an update to the QROPS
list.
23 September
Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 79K)
Pension Schemes Services (PSS) has today published an update to the QROPS
list.
25 July
Pension Schemes: Regulations
HMRC announce that the Government intends to provide regulations to prevent
inadvertent tax consequences where a member’s scheme pension is reduced
in the course of the winding-up of their pension scheme. The draft
regulations will be put on this site for comment in due course.
23 July
Contracting out – Self Invested
Personal Pensions
There has been a change in legislation that will allow Self Invested Personal
Pensions (SIPPS) to hold Protected Rights.
22 July
Pensions Tax Simplification Newsletter 34
The thirty fourth Pensions Tax Simplification newsletter has been published
today.
8 July
Online User Guide (PDF 216K)
Pension Schemes Services has updated its online user guide.
1 July
Draft SI - Adult Dependant Children's
Pensions - transitional provisions
We have published today a draft pensions transitional order for comment.
30 May
Draft Regulation
published
The following draft regulations and an explanatory memorandum relating to
pension schemes were published on 23 May.
28 April
Pensions regulation making-powers
in Finance Bill 2008
We have published today information relating to the new pensions regulation-making
powers in Finance Bill 08.
17 April
Pension Schemes: Finance Bill 2008 - FB08
HMRC have provided a snapshot of the guidance drafted for FB08.
28 March
FB08
HMRC have provided a snapshot of the guidance drafted for FB08.
26 February
The Pension Schemes Services Helpline number
has changed to 0845 600 2622
This new local rate number will allow us to improve the service that we
offer to our customers.
4 February
Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order
We have today published a draft transitional provisions amending order and EM relating to bridging pensions.
11 January
EFRBS Guidance (PDF 37K)
Guidance on the EFRBS Excluded Benefits regulations has been published today.
2007
13 December
Pensions Tax Simplification
draft regulation (PDF 33K)
A draft Provision of Information (Amendment) regulation has been published
today.
11 December
Pension Schemes – Surplus
Avoidance Device
HMRC has today published guidance on the tax implication for Scheme Administrators
that enter into this type of transaction.
4 December
Manuals: Registered
Pension Schemes Manual
Recent updates to Registered Pension Schemes Manual have today been published.
The Pension Regulator Scheme Return
The Pensions Regulator is the UK regulator of work-based pension schemes.
From December 2007, the Regulator will be issuing their scheme return notices
to all registered occupational schemes by post, asking scheme trustees to
register to use their new online system called Exchange. This return is
different to, and should not be confused with, the Pension Scheme Return
which you may have received a notice to file from HMRC.
More information on The Pensions Regulator scheme return and their new online system can be found on The Pension Regulator's website along with some Frequently Asked Questions they have produced.
28 November
Pension schemes - interim arrangements for changes announced at PBR 07 We have today published guidance for pension scheme administrators on the practical effects of the pension scheme changes announced at last months Pre Budget Report.
4 September
Transitional protection of lump sums and pension
ages: amending order (PDF 30K)
Further to our announcement on 12 December 2006, we have today published
a draft order extending the scope of transitional protection following certain
transfers or reorganisations and the winding up of schemes. Any comments
should be emailed to pensionsconsult@hmrc.gsi.gov.uk, to arrive by Friday
5 October.
25 July
Pension Schemes Online - A Guide to Using
the Online Service (PDF 150K)
Pension Schemes Services have today published a user guide for Scheme Administrators
and Practitioners using the Pension Schemes Online service.
16 July
Reattribution of inherited
estates and payments to pension policyholders
A statement and draft regulations on the proposed tax treatment of payments
made to pension policyholders in the context of the reattribution of inherited
estates has been published.
2 July
Non-cash benefits provided after retirement
We have today published guidance on reporting non-cash benefits provided
after retirement during the tax year 2006-07. The deadline for reporting
is 7 July 2007.
27 June
Pensions Tax Simplification
draft regulation (PDF 56K)
The draft Provision of Information (Amendment) regulation has been published.
12 April
Relief for life assurance premium contributions
HMT/HMRC statement on tax relief for life assurance premium contributions
is now available. The statement covers transitional provisions for pipeline
cases and for policies sold as part of a personal pension scheme also providing
pension benefits.
30 March
Pensions simplification draft regulation
(PDF 26K)
The draft Modification of the Rules of Existing Schemes (Amendment) regulation
has been published.
26 March
PIWG Minutes
The minutes of the PIWG meeting on 7 February 2007 are now available.
23 March
Pension Scheme Administrator Helpsheet
(PDF 63K)
A helpsheet for Scheme Administrators of registered pension schemes is now
available.
21 March
New maintenance forms
Pension Schemes Services have today published revised versions of forms
APSS151, APSS152, APSS153, APSS154 and APSS160. These versions of the forms
should be used from today’s date.
19 March
Pensions simplification draft regulation
The draft Modification of the Rules of Existing Schemes (Amendment) regulation
has been published.
16 March
Research Survey by BMRB
Surveys of employers and the Financial Services Industry.
Personal Pension Relief at Source claims
New forms are to be used for Personal Pension Relief at Source claims.
5 March
Changes to the rules on who can establish
a registered pension scheme that is not an occupational pension scheme
PSS has today (Monday 5 March 2007) issued a reminder about the forthcoming
changes to the registration rules for pension schemes that are not occupational
pension schemes and how these changes will apply to registration applications.
This information will give guidance and specifications on making annual
information returns for Registered Pension Schemes operating relief at source.
1 March
Pensions simplification draft regulation
(PDF 39K)
The draft Bridging Pensions Regulation is now published.
23 February
Errors and mistakes guidance (PDF 78K)We have published guidance on how payments made in genuine error are treated under the tax rules for registered pension schemes. Currently the guidance is in a standalone format but it will be incorporated into the Registered Pension Schemes Manual in due course.
12 February
Pensions simplification draft regulation
Standard lifetime and annual allowance regulation is now published.
24 January
Tax and National Insurance Treatment of
Employer Cash Inducement Payments to Pension Scheme Members
HMRC today publishes its view on the tax and National Insurance treatment
of lump sums paid to pension scheme members in return for giving up their
benefit rights.
2006
19 December
Pensions Term Assurance
HMT/HMRC Statement on Pensions Term Assurance pipeline cases is now available.
12 December
Pension Simplification Draft Regulations
An announcement of proposed regulations is now available.
8 December
Pension Simplification
The regulations amending the Enhanced Lifetime Allowance have now been laid.
6 November
Pension Simplification: Social Security (Contributions)
(Amendment No.5) Regulations
The regulations further amending the Social Security (Contributions) Regulations
(SI 2001/1004) have now been published.
31 October
Pension Simplification: Social Security (Contributions)
(Amendment No.5) Regulations
The regulations further amending the Social Security (Contributions) Regulations
(SI 2001/1004) have now been published.
6 September
Pension Simplification Draft
Regulation (PDF 73K)
Enhanced Lifetime Allowance Amendment Regulations are now published.
4 September
Registered Pension Schemes Manual
(PDF 260K)
We have today published an updated log of amendments to the Registered Pension
Schemes Manual.
30 August
Registered Pension Scheme Manual
An updated version of the RPSM has been published today in HTML and PDF.
7 August
Disclosure regime and registered
pension schemes
From 1 August 2006 those promoting schemes and arrangements designed to
produce a tax advantage relating to registered pension schemes will be obliged
to report these to HMRC.
25 July
Pension Simplification: Transitional
Provisions Order laid today
The order providing revised rules for the calculation of stand-alone lump
sums, along with guidance note, are published today.
21 July
Pension Simplification: Regulations laid
July 2006
Following Royal Assent of the Finance Act 2006 on the 19th July 2006, HMRC
today laid 7 pension simplification regulations.
12 July
Proposed
changes to the eligibility rules for establishing a pension scheme
The Government announced today that the rules on who may establish a registered
pension scheme will be amended in the Finance Bill 2007.
Pensions Tax Simplification
Regulations (PDF 27K)
A revised draft of the Taxable Property Provision regulations has now been
published.
10 July
Pension Schemes Online
New forms and returns are now available on our Pension Schemes Online service.
3 July
Accounting for Tax by Scheme Administrator
The final version of the Accounting for Tax by Scheme Administrator and
the completion notes is now available.
Final Overseas Forms
The final versions of the APSS252 Report of benefit crystallisation events
and the APSS 253 Payments in respect of relevant members together with the
completion notes are available now.
22 June
Pensions Simplification: Pipeline Lump Sum Death Benefits(Link now removed
26/7/2006)
An announcement of the proposed amendment to the transitional regulations
is now available.
11 May
Registered Pension Schemes Manual
Chapter 4 (PDF 79K)
A supplement to Chapter 4 of the RPSM on Taxation has been published. The
new section covers authorised surplus payments. This is currently only available
as a pdf file but will be available in the HTML manual in August this year.
7 April
Pension Schemes: Residential Property and other assets HMRC have today published revised draft guidance and legislation, along with additional draft regulations relating to property held by registered pension schemes.
3 April
Registered Pension Schemes Manual-changes to Chapters 3 and 20
Chapter 3 has been revised to clarify procedures and reflect regulatory
changes. The new version will only be available as a PDF download until
we have the opportunity to publish the HTML version. Minor changes have
also been made to the Glossary.
Revised IR12, IR12 Supplement and IR76 have been
published
Revised IR12, IR12 Supplement and IR76 have been published to incorporate
the changes in Updates 159,160 and 161.
Three Pensions Updates have been published
Pensions Updates 159, 160 and 161 have been published today.
1 April
Pensions Tax Simplification Frequently Asked Questions
for QROPS and overseas transfers
Pensions Tax Simplification for QROPS and overseas transfers have been added
to the Frequently Asked Questions page.
31 March
Pension Simplification: Bridging Pensions
HMRC have today published revised draft legislation on bridging pensions.
Pension Simplification: Migrant Member Relief
HMRC have today published revised draft regulations extending migrant member
relief.
Inheritance Tax (IHT) & Pensions
Simplification
The Economic Secretary announced in his statement yesterday publication
of the draft Finance Bill provisions to clarify how IHT applies to members
of registered pension schemes on and after 6 April 2006. Earlier details
including contact information were published in BN 26.
24 March
Pension Simplification: Residential Property and Other Assets
HMRC have today published draft legislation and guidance relating to taxable
property held by registered pension schemes.
Proposed
changes to the eligibility rules for establishing a pension scheme
Announcement of the proposed changes to the eligibility rules for establishing
a scheme pension.
17 March
Registered Pension Scheme Manual
The manual has been revised to reflect the provisions of regulations and
orders made under Finance Acts 2004 and 2005 and laid up to 17 February
2006. A printable version (PDF) of the Technical pages of the revised manual
is available now. The revised HTML version should appear on this website
at the end of March 2006.
16 March
Finance Bill 2006
Details of further Finance Bill 2006 measures on pensions tax simplification
are announced along with draft legislation and Explanatory Note.
14 March
Pensions Update no. 157 - a reminder (PDF
27K)
This Update offered Scheme Administrators the chance to bring all 1SF matters
up to date for years 2004/05 and earlier before Pensions Simplification
beginning in April 2006.
13 March
Pensions Tax Simplification Protection form
The final version of the main protection form is now available. This form
should not be submitted to Audit and Pension Schemes Services before 6 April
2006.
7 March
Finance Bill 2006
Details of further Finance Bill 2006 measures on pensions tax simplification
are announced.
3 March
Tables relating to unsecured and alternatively
secured pensions
HMRC has today published updated tables for use in calculating the maximum
income from unsecured and alternatively secured pensions in the new simplified
tax regime for pensions which comes into effect on 6 April 2006.
Pension tax simplification regulations (PDF 25K)
A draft of the Registered Pension Schemes (Authorised Surplus Payments)
Regulations is now available.
Pension tax simplification regulations
A draft of the transitional Order protecting rights on transfer, re-organisation
and winding-up is now available.
