Policy paper

Draft legislation - The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) (Amendment) Order 20XX

Draft legislation to make a number of changes to the annual allowance legislation following the changes in Finance Act 2011, to help ensure that the annual allowance rules work as intended.

• From: HM Revenue & Customs
• Published: 29 July 2014

Documents

Pensions: Draft statutory instrument - The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) (Amendment) Order

PDF, 74.9 KB, 13 pages

Pensions: Draft Explanatory Memorandum to The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) (Amendment) Order

PDF, 31.7 KB, 7 pages

Pensions: Draft guidance for The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) (Amendment) Order

PDF, 492 KB, 58 pages

Details

HM Revenue and Customs has published a draft Statutory Instrument for external technical consultation together with draft guidance and draft Explanatory Memorandum.

The changes include provisions to ensure that pension scheme administrators do not normally have to test deferred benefit rights against the annual allowance and by addressing unintended outcomes for the ‘scheme pays’ facility as well as the treatment of certain transfers of pension pots.

Comments on the drafts should be sent by email to Pensions Policy by 27 August 2014.

Published 29 July 2014