On 29 December 2009, HM Revenue & Customs (HMRC) published no.39 in its series of Pension Scheme Newsletters.
The contents include:
- first charge aspects relating to member-directed pension schemes making authorised employer loans;
- update on pension scheme compliance issues with a link to HMRC’s Tax Evasion Hotline;
- default of scheme administrator’s liability in situations where the administrator cannot be traced or identified and a list of the priority order of parties to whom liability passes, including trustees and employers; a note will be added to the Registered Pension Schemes Manual online for clarification;
- further changes to improve the repayment processes to registered pension schemes;
- updated versions of repayment request forms;
- introduction of a new form for registration for taxed income repayments;
- third party authorisation form in respect scheme payments made by HMRC to that third party;
- a link to new information about time limits for submitting repayment requests;
- Pre-Budget Report 2009 - links to guidance on the implementation of the restriction of pensions tax relief and also to a technical note about changes to the anti-forestalling rules and tax rates.
View the newsletter.