These draft Regulations were issued in May 2008 and set out changes to the authorised payments regime. Some unplanned payments, currently classed as unauthorised, will become authorised with effect retrospective to 6 April 2006. The Regulations will also make some easements to the rules for “trivial commutation”.  

A finalised version of the Regulations was due to be issued before the end of last month but it had not appeared by 28 January 2009. At this point, HMRC decided to issue a clarificatory note to scheme administrators to inform them that payments designed to become authorised under the draft Regulations need not be included in the scheme Event Report due to be submitted to HMRC by 31 January 2009. If under the final Regulations the payment would, in fact, remain unauthorised, HMRC confirmed that no tax penalty for late notification or late payment would be incurred. This is subject to a proviso that an amended Event Report including any unauthorised payments is submitted promptly after the final Regulations are issued.

View the draft Regulations (pdf)(84KB).