HMRC AMENDS INFORMATION REGS
In mid-November 2017 primary legislation was passed to confirm the 60% reduction to the Money Purchase Annual Allowance . Today the long-expected amendments to align the Provision of Information Regs (SI 2006/567) were laid.

The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2018 (SI 2018/5) change the limit in Regs 14ZA (3)(b) and 14A (9)-(10) from £10,000 to £4,000.

A similar amendment is also made to The Pension Schemes (Information Requirements for Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pensions Schemes and Corresponding Relief) Regulations 2006 (SI 2006/208 Reg 3AA(3)(b)).

These amendments have retrospective effect to 6 April 2017.

This SI also introduces a new Reportable Event 20A where a scheme ceases to be

or becomes a Master Trust scheme, with effect for tax year 2018/19 and subsequent tax years.

These Regulations come into force on 30 January 2018, after which date the Pensions Tax Manual will be updated.

Online Event Reporting

It is to be hoped that HMRC can . . .

09 Jan 2018   Check other news items



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