Draft legislation: The Registered Pension Schemes (Provision of Information) (Amendment No. 2) Regulations 2016
This draft regulation make changes to the Registered Pension Schemes (Provision of Information) Regulations 2006.
Documents
Details
HM Revenue and Customs has published draft regulations and draft explanatory memorandum for a technical consultation. The draft regulations make changes to the Registered Pension Schemes (Provision of Information) Regulations 2006.
When a lump sum death benefit is paid to a trust, the draft regulations require scheme administrators to provide information to the trustee on the amount of lump sum death benefit and tax paid by the scheme administrator. The draft regulations also require trustees to pass on the same information if they then use the lump sum death benefit to make a payment to an individual beneficiary of the trust. This will ensure the trust beneficiary has the information they need in order to claim a refund of the excess tax paid by the scheme administrator over and above the tax at their marginal rate.
Comments on the drafts should be sent by email to pensions.policy@hmrc.gsi.gov.uk by 5 December 2016.
Last updated 31 January 2017 + show all updates
-
Registered Pension Schemes (Provision of Information) regulations have been laid and can be found on the legislation website.
-
First published.