HM Revenue & Customs (HMRC) has detailed changes to the process for making in year repayments of UK tax paid on the investment income of registered pension schemes. This is an easement permitted by HMRC allowing requests for repayment during the tax year. The changes, which will be introduced from 1 August 2009 and relevant guidance included in the online Registered Pension Schemes Manual, are:
- a de minimis limit of £5,000 for in year requests for repayment;
- a limit on in year repayment requests of one per month from each registered pension scheme; and
- changes to the deadlines for repayment claims.
View the guidance.