Guidance

Draft amendments to the Registered Pension Schemes Manual for the draft Annual Allowance Order 2015

Draft Annual Allowance Charge Order 2015 is published along with draft guidance. These Include a range of changes to ensure the annual allowance legislation works as intended.

This publication was withdrawn on

This publication was originally archived on 10 February 2015.

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The draft Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) (Amendment) Order 2015 has been published along with draft guidance. This includes a range of changes to ensure that the annual allowance legislation works as intended.

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

We have published draft guidance to explain these changes and the different times from which the changes will take effect. The draft guidance is in the form of new pages and highlighted amendments to existing pages of HM Revenue and Customs Registered Pension Scheme Manual. It is intended that a final version of these amendments will be issued closer to the time that the Order takes effect.

Published 15 December 2014