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HMRC internal manual

Pensions Tax Manual

HM Revenue & Customs
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About this manual: introduction

Who the manual is for
Using this manual

Who the manual is for

The Pensions Tax Manual (PTM) is HM Revenue and Customs’ guidance on the taxation of registered pension schemes and certain international pension schemes. 

The PTM replaces the Registered Pension Scheme Manual (RPSM). Prior to the introduction of the PTM the RPSM provided the relevant guidance and was drafted in four different sections with different audiences in mind (technical pages, member pages, scheme administrator pages and employer pages). In 2015 the PTM was written as one manual, incorporating the guidance from the RPSM, following feedback that the original RPSM structure was difficult to follow. The PTM was originally issued in Spring 2015.

The PTM includes introductory overview guidance, where appropriate, as well as the technical guidance pages which pension specialists rely on.

The PTM is written to help HMRC staff as well as assisting customers and their advisors. The PTM structure takes into account the growing need for guidance on the taxation issues as they relate to registered pension schemes and certain international pension schemes from a number of different audiences.

Using this manual

Glossary PTM000001


There is a glossary to the PTM which contains defined terms. Defined terms can be identified in the PTM by being in bold text. A word is normally only in bold once in a page but for longer pages a defined term may be in bold text more than once. Where there is a defined term on a page there will also be a link to the glossary.


The taxation of registered pension schemes has altered significantly since the regime was introduced on 6 April 2006 (the date known as “A-day”). The guidance contained in this manual is in respect of the legislation as it stands in April 2015. Guidance in respect of the period prior to this date, and prior to the introduction of the PTM, is covered in the RPSM and all earlier versions of the RPSM can be found on the National Archive website.