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Adviser  >  Technical Central  >  Information & guidance  >  General  >  HMRC Pension Schemes Newsletters

HMRC Pension Schemes Newsletters

Periodically HMRC issue Pension Schemes Newsletters (up to Newsletter 34 they were called Pensions Tax Simplification Newsletters). These cover almost anything to do with pensions and contain valuable information. A brief summary of the Newsletters issued so far are below:

Newsletter 51 - December 2011

 This includes information on the following:

  • Filing notice for the Registered Pension Scheme Return, Event Report and Tax Returns for trustees of registered pension schemes
  • Contracting out
  • Non-registered schemes and Part 7A ITEPA 2003
  • Employer asset-backed pension contributions
  • Small pension pots
  • Overseas Pension Schemes - Transfers to QROPS
  • Drawdown pension tables
  • Amendments to the Registered Pension Schemes Manual (RPSM)

Newsletter 50 - November 2011

 This newsletter is a Fixed Protection Special Edition and includes information on:

  • application for fixed protection,
  • when a member with fixed protection takes their benefits,
  • benefit accrual and other money purchase arrangements,
  • benefit accrual (for fixed protection) and relevant benefit accrual (for enhanced protection) in relation to defined benefits arrangements,
  • benefit accrual is an ongoing test,
  • benefit accrual and an “earnings cap”,
  • the benefit accrual test for defined benefits is a test on prospective rights,
  • the “relevant percentage”,
  • the “relevant percentage” and scheme rule changes,
  • the “relevant percentage” and late retirement factors,
  • the benefit accrual test for defined benefits in a tax year during which the member takes their benefits,
  • when not all benefits are taken from an arrangement,
  • enhancements on taking benefits,
  • death benefits including death in service benefits,
  • new arrangements,
  • penalties for failure to notify loss of fixed protection,
  • what happens once fixed protection has been lost?

Newsletter 49 - September 2011

This includes information on the following:

  • changes to the Pension Schemes website,
  • the Registered Pension Schemes Manual (RPSM) update,
  • trivial commutation,
  • drawdown pension tables - under 23's,
  • flexible drawdown - scheme administrator responsibilities
  • and an update on the Pension Schemes Anti Fraud Unit.

Newsletter 48 - August 2011

This includes information on the following:

  • Finance Act 2011 and supporting regulations,
  • guidance and enquires,
  • application for protection of your lifetime allowance - fixed protection,
  • reporting requirements for flexible drawdown payments,
  • and the pension benefit reforms and changes to accounting for tax.

Newsletter 47 - June 2011

This includes information on the following:

  • relief at source (RAS),
  • draft regulations,
  • fixed protection,
  • the meaning of expected pension,
  • pension input periods (PIPs),
  • employer asset-backed pension contributions.
  • and The Equitable Life Payments Scheme (ELPS).

Newsletter 46 - April 2011

This includes information on the following:

  • nomination of pension input periods (PIPs),
  • payment of the annual allowance (AA) charge from pension benefits,
  • disguised remuneration,
  • and employer asset-backed pension contributions.

Newsletter 45 - February 2011

This includes information on the following:

  • The Registered Pension Schemes Regulations, 
  • The Scotland Bill,
  • Normal Minimum Pension Age,
  • and changes to pension schemes online.

Newsletter 44 - December 2010

This includes information on the following:

  • Pension Scheme Inspections, 
  • draft Finance Bill 2011,
  • pension transfers for people aged 50 to 55,
  • and early access to pension savings.

Newsletter 43 - December 2010

This includes details on changes to Pension Schemes Online.

Newsletter 42 - November 2010

This includes information on the following:

  • the new Pension Industry Stakeholder forum, 
  • Code of Practice 10 - reversion to normal time limits for enquires,
  • restriction of pensions tax relief,
  • and secondary legislation including The Registered Pension Schemes (Modification of the Rules of Existing Schemes) Regulations and The Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order.

Newsletter 41 - July 2010

This provides information on the following:

  • the relief at source regulations are being reviewed and as part of the review, HMRC HQ are looking for volunteers to help with the process,
  • and some frequently asked questions.

Newsletter 40 - March 2010

This provides information on the following:

  • a new process from 6 April 2010 to make it easier for you to obtain a deduction against the scheme sanction charge
  • the process for raising the scheme sanction charge for the tax years 2006-07 to 2009-10 inclusive
  • and a selection of frequently asked questions.

Newsletter 39 - January 2010

This includes information on the  following:

  • security & first charges (for loans made by member directed pension schemes)
  • compliance issues
  • default scheme administrator (where no scheme administrator can be identified/traced
  • registered pension scheme repayments – changes to the processes
  • details of the consultation re implementing pensions tax relief restrictions from 6 April 2011
  • confirmation of the changes to the anti-forestalling rules
  • changes to tax rates.

Steve Bee has also written about this in his Beeline HMRC Newsletter 39.

Newsletter 38 - December 2009 

This provides detail on how the change in normal minimum pension age from 50 to 55 on 6 April 2010 will affect pension schemes. In particular, it covers:

  • pensions 
  • pension commencement lump sum
  • what is the pension payment date?
  • and those who are aged 50 on 2 April 2010 to 5 April 2010 inclusive.

Steve Bee has also written about this in his BeeLine information.

Newsletter 37 - May 2009 

This includes information on the following:

  • links to Budget 09 publications
  • changes to the rules on new borrowing by pension schemes
  • clarification of the rules surrounding charging orders on property used as security for loans by a pension scheme
  • clarification of the rules surrounding re-negotiating leases
  • an update of HMRC’s position on employer contributions that include asset transfer
  • explanation of the protection of low pension ages where crystallised benefits are transferred.

Steve Bee has also written about this in his BeeLine HMRC Pension Schemes Newsletter #37

Newsletter 36 - January 2009

This is a special edition of the newsletter focusing on the transfers of UK tax-relieved funds to Australian qualifying recognised overseas pension schemes (QROPS). This includes information on the following:

  • unauthorised payments charges
  • self assessment by individuals
  • reporting by QROPS
  • further guidance.

Steve Bee has also written about this in his BeeLine - HMRC Pension Schemes Newsletter #36.

Newsletter 35 - November 2008

This includes information on the following:

  • pension schemes online
  • filing deadlines
  • registered Pension Scheme Return reminders
  • tax return for the trustees of registered pension schemes
  • the Pensions Regulator Scheme Return
  • annual and lifetime allowances.

Steve Bee has also written about this in his BeeLine - Pension Schemes Newsletter #35.

Newsletter 34 - July 2008

The includes information on the following:

  • code of practice 10
  • scheme sanction change/unauthorised payment
  • registering a new death in service/group life assurance scheme.

 Steve Bee has also written about this in his BeeLine HMRC Tax Simplification Newsletter #34 - The Last One!

Newsletter 33 - May 2008

The includes information on the following:

  • registered Pension Schemes and the Disclosure Regime
  • regulation making powers in Finance Bill 2008
  • pension Scheme Return Notices
  • online system error messages
  • new Helpline number.

Further details on the Finance Act 2008 can be found on Technical Central. Steve Bee has also written about this in his BeeLine  - HMRC Pensions Tax Simplification Newsletter #33.

Newsletter 32 - December 2007

The includes information on the following:

  • interim arrangements for changes announced in the pre-budget report 2007
  • Regulations update
  • correction to Newsletter 31
  • e-filing for registered pension schemes – a reminder
  • registered pension scheme return reminders
  • ensuring that Event Reports are submitted 
  • SA970 Pension Scheme SA report
  • the Pensions Regulator Scheme Return
  • surplus avoidance device
  • registered pension scheme manual updates.

Further details on Scheme Administrator duties including Event reports and the Pre Budget Report 2007 can be found in Technical Central. Steve Bee has also written about this in his BeeLine  - HMRC Pensions Simplification Newsletter #32 - The Continuation of Simplification.

Newsletter 31 - November 2007

The includes information on the following:

  • pre-Budget Report
  • review of the operation of the open market option
  • correction to Newsletter 29 - alternatively secured pensions and untraceable members
  • registering schemes
  • reportable events
  • tax return for the Trustees of registered pension schemes
  • event report - question 15 (lump sums over 25%).

Further information on the Pre Budget Report 2007 can be found in Technical Central.  Steve Bee has also written about this in his BeeLine  - HMRC Pension Simplification Newsletter #31.

Newsletter 30 - October 2007

This includes information on the following:

  • e-Mandation
  • prescribed format for e-filing
  • filing information online
  • forms that will become obsolete and must be filed online from 16 October
  • service availability and IT issues with Pension Schemes Online
  • forthcoming filing deadlines
  • customers who have difficulty accessing or using a computer
  • notifying HMRC of scheme wind-up before 6 April 2006
  • notifying HMRC of a scheme wind-up where there is no longer a Scheme Administrator
  • prevention of duplicate scheme records.

More information on HMRCs Guide to Using the Online Service for Scheme Administrators and Practitioners can be found in Technical Central. Steve Bee has also written about this in his BeeLine - HMRC Pensions Tax Simplification Newsletter #30.

Newsletter 29 - August 2007

This includes information on the following:

  • a summary of the Finance Act 2007 which received Royal Assent on the 19 July 2007
  • assignment of Annuities
  • overpayments made in error
  • codes of Practice 10: the application of the last four Finance Acts rule to enquiries about pension legislation in Finance Act 2004
  • mandatory electronic filing of information with HMRC.

More information on Finance Act 2007 the can be found in Technical Central.  Steve Bee has also written about this in his BeeLine HMRC Newsletter #29.

Newsletter 28 – July 2007

This includes information on the following:

  • Australian pension schemes and tax changes from 1 July 2007 – transfers from registered pension schemes
  • qualifying recognised overseas pension schemes list
  • annual allowance test when a transfer is made from a registered pension scheme to a qualifying recognised overseas pension scheme
  • guidance on reporting cash and non-cash benefits provided after retirement
  • bridging pensions – transitional provisions
  • responsibility for making a registered pension scheme return
  • changes to contracting-out guidance and procedures
  • Government Actuary’s Department (GAD) tables
  • e-mandation and e-filing
  • how to find out if a notice to file a registered pension scheme return or audited accounts has been issued
  • retention period for online forms partially completed and saved
  • pension scheme self assessment tax return.

More information on overseas transfers, annual allowance and the latest GAD interest rates can be found in Technical Central. Steve Bee included a summary of this Newsletter in one of his BeeLines Pensions monitoring and stuff.

Newsletter 27 – April 2007

This special edition Newsletter explains the new processes that came into force on 6 April 2007 for pension schemes on mandatory electronic filing. This includes information on the following:

  • mandatory electronic filing of pension scheme information with HMRC
  • how do Scheme Administrators and Practitioners provide information electronically?
  • new forms and processes available
  • frequently asked questions relating to new requirements introduced on 6 April 2007
  • guidance for Scheme Administrators.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Pensions Tax Simplification Newsletter #27.

Newsletter 26 – March 2007

This includes information on the following:

  • Budget 2007
  • regulations update
  • FSA regulation of SIPPS
  • new establishment rules for personal pensions
  • employers’ contributions to registered pension schemes
  • scheme administrator helpsheet
  • forms update
  • pension schemes online upgrade and the final date for submission of old style scheme registrations
  • filing dates for SA970 (Pension Scheme SA Return)
  • pensions industry working group minutes.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Pensions Tax Simplification Newsletter #26.

Newsletter 25 – February 2007

This includes information on the following:

  • lifetime allowance test under BCE3 on scheme pensions which started before 6 April 2006
  • notional earnings cap 2007-08 (£112,800)
  • pension Scheme Self Assessment Tax Return 2006/2007
  • withdrawal of Statement of Practice 13/91
  • payment errors and mistakes guidance.

Steve Bee included a summary of this Newsletter in one of his BeeLines - More Complicated Explanations of Simplification.

Newsletter 24 – January 2007

This includes information on the following:

  • employers: the tax and National Insurance treatment of employer cash inducement payments to pension scheme members
  • relief on contributions to a US pension scheme under the UK/USA double taxation treaty – procedural guidance note
  • new processes for April 2007
    • register a new pension scheme
    • event report
    • notices for pension scheme returns
    • notices for audited accounts
  • recent changes to the Registered Pension Schemes Manual.

Steve Bee has covered both this Newsletter and Cash for Pensions in recent BeeLines.

Newsletter 23 – January 2007

This includes information on the following:

  • the announcements made in the Pre-Budget Report 2006 including:
    • alternatively secured pension
    • pension term assurance
    • change in the rules on residential property
  • qualifying recognised overseas pension schemes
  • deferred annuity contracts
  • tracing a scheme pension scheme tax reference
  • Registered Pension Schemes Manual.

Steve Bee included a summary of this Newsletter in one of his BeeLines HMRC Tax Simplification Newsletter #23 and further details of the Pre-Budget Report 2006 can be found in Technical Central.  Further details on transfers to qualifying recognised overseas pension schemes can be found in overseas transfers.

Newsletter 22 – November 2006

This includes information on the following:

  • use of P60 (substitute) for lifetime allowance
  • age Discrimination – the Employment Equality (Age) Regulations 2006
  • APSS 200 Forms
  • pre A-Day forms
  • small occupational schemes.

Steve Bee included a summary of this Newsletter in one of his BeeLines HMRC Pensions Tax Simplification Newsletter #22.

Newsletter 21 – October 2006

This includes information on the following:

  • pre A-Day surpluses in annuity policies purchased from an occupational pension scheme – lump sum payments
  • pre A-Day pension – classification under new tax rules
  • what is meant by the term ‘single transaction’ for a block transfer
  • employer-Financed Retirement Benefit Schemes – provision of non-cash benefits after 6 April 2006
  • qualifying recognised overseas pension schemes
  • employer contributions
  • notifications for enhanced protection and enhanced lifetime allowance
  • scheme wind-ups
  • contracting-out booklets.

More information on Block Transfers and Employer contributions can be found in Technical Central. Further details on transfers to qualifying recognised overseas pension schemes can be found in overseas transfers.

Newsletter 20 – October 2006

This short Newsletter focused on the Accounting for Tax return and Online Filing. This gives a step by step guide to helping Scheme Administrators use Pension Schemes Online.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Simplification Newsletters #s 19 & 20.

Newsletter 19 – September 2006

This includes information on the following:

  • interest paid with lump sums
  • overpayments made in error
  • winding-up lump sums and employer undertakings
  • e-mandation
  • pre A-Day PS forms
  • accounting for tax reminder.

Steve Bee included a summary of this Newsletter in one of his BeeLines HMRC Simplification Newsletters #s 19 & 20.

Newsletter No. 18 – August 2006

This includes information on the following:

  • transfer of unvested funds
  • definition of halls of residence
  • trivial commutation
  • change to the Scheme Registration Form for April 2007
  • accounting for Tax Returns
  • Registered Pension Schemes Manual.

Additional information can be found on Trivial Commutation in Technical Central -Trivial lump sums. Steve Bee included a summary of this Newsletter in one of his BeeLines HMRC Simplification Newsletter #18.

Newsletter 17 – July 2006

This includes information on the following:

  • registered Pension Scheme Practitioners
  • payments to members aged under 55 when the normal minimum pension age changes in 2010
  • permitted transfers and enhanced protection
  • assignments and Section 172
  • legislation and regulations
  • pension schemes online
  • accounting for tax – a reminder
  • accounting for Tax Returns: accounting for lifetime allowance charge
  • transfers to recognised overseas pension schemes.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Simplification Newsletters #16 and #17.

Newsletter 16 – June 2006

This includes information on the following:

  • things that the HMRC no longer need to be told about
  • who HMRC can talk to about Registered Pension Schemes
  • trivial commutation lump sums – taxation through PAYE system
  • how to tell if a scheme has been registered
  • new forms for overseas schemes
  • draft forms – event report and Pension Scheme Return
  • amend scheme details form APSS 152 – advice on completion
  • legislation
  • ASS and Joint Working Group Minutes
  • pensions simplification – pipeline lump sum death benefits
  • reporting Form 1SF – reminder
  • newsletter 15
  • Pensions Industry Working Group Minutes for 4 May meeting.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Simplification Newsletters #16 and #17.  Additional information can also be found on Trivial Commutation in Technical Central -Trivial lump sums.

Newsletter 15 – June 2006

This includes information on the following:

  • pension schemes nnline
  • accounting for tax return.

Newsletter 14 – May 2006

This includes information on the following:

  • pre A-Day ‘surpluses’ in annuity policies purchased from an occupational pension scheme
  • guaranteeing a scheme pension post A-Day
  • annual allowance – transfers in defined benefits arrangements
  • enhanced protection – transfers from defined benefits or cash balance arrangements to other money purchase arrangements
  • the valuation of London quoted shares for pension purposes
  • authorised and unauthorised Practitioners
  • submission of Pre-Registration and PS 252 forms
  • adding a cessation of a Scheme Administrator
  • amending scheme details (APSS 152)
  • accounting for tax (AFT) Return
  • Registered Pension Schemes Manual.

And in an addendum

  • lump sums paid in connection with scheme pensions from money purchase arrangements.

Steve Bee included a summary of this Newsletter in one of his BeeLines - More Gems from the Tax Guys.  Further details on pre A-Day protection can also be found in Technical Central - Pre A-Day protection.

Newsletter 13 – April 2006

This includes information on the following:

  • impact of A-Day
  • pension schemes online
  • completion of Protection of Existing Rights form APSS200
  • Non-standard relevant valuation factors
  • Government Actuary’s Department (GAD) – unsecured pension enquiries
  • regulations revoked by Finance Act 2004
  • Pensions Industry Working Group results from 3rd Survey
  • changes to application process – Newsletter No.3.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Pension Rules Catch-up.

Newsletter 12 – April 2006

This includes information on the following:

  • pension schemes online goes live!
  • acknowledgement of online scheme registration
  • mandatory online filing.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Pension Rules Catch-up.

Newsletter 11 – March 2006

This includes information on the following:

  • earnings cap
  • protection certificate reference numbers
  • decimal points and protection
  • update 157 – a reminder
  • changes to the internet
  • 1 (SF), 2 (SF) and 3 (SF)
  • serious ill-health and DWP requirements
  • overseas transfers and QROPS.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Pension Rules Catch-up.  Further details on transfers to qualifying recognised overseas pension schemes can be found in overseas transfers.

Newsletter 10 – February 2006

This includes information on the following:

  • ten things to be aware of
  • how to claim relief at source after A-Day
  • interest on short service refunds
  • block transfers
  • overseas transfers.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Newsletter No 10.

Additional information on how block and winding-up transfers can be used to protect tax-free cash on transfer to another registered pension scheme can be found on Technical Central - Block Transfers. Further details on transfers to qualifying recognised overseas pension schemes can be found in overseas transfers.

Newsletter 9 – January 2006

This includes information on the following:

  • countdown to A-Day
  • pre A-Day application for approval
  • cessation of scheme administrator
  • trivial commutation
    • schemes and other payers affected by the changes
    • types of trivial commutation payments
    • how PAYE will apply from 6 April 2006
    • end of current reporting requirements for personal pension schemes
    • in year tax repayment claim procedure
    • extract from ‘Employers further guide to PAYE and NICs’
    • tax advice for recipients of trivial commutation payments.

Steve Bee included a useful summary of this Newsletter in one of his BeeLines - More A-Day gumpf from HMRC.  We also have additional information on Trivial lump sums on Technical Central.

Newsletter 8 – December 2005

This includes information on the following:

  • technical points
    • life Assurance and enhanced protection
    • lifetime allowance enhancement and protection
  • pensions schemes online update
    • what will be available online from April 2006
    • pension scheme tax reference number
  • latest news
    • policy
    • Pensions Industry Working Group
    • relief at source
    • update 158 – pre A-Day avoidance
    • EFURBS
    • frequently asked questions
    • factsheets.

Steve Bee included a summary of this Newsletter in one of his BeeLines - More complex explanations to help us understand simplification.  In addition to this we have a technical item on the Lifetime allowance charge on Technical Central that may also be of interest.

Newsletter 7 – November 2005

This includes information on the following:

  • extra statutory concession A10
  • Pensions Industry Working Group survey and results
  • how HMRC will communicate via pension schemes online
  • latest news

Newsletter 6 – November 2005

This includes information on the following:

  • pension schemes online – timing and content of releases
  • postponement of mandatory online filing
  • questions and answers.

We have a large selection of Frequently asked questions on our Technical Central website.  These cover all aspects of simplification.  

Newsletter 5 – October 2005

This includes information on the following:

  • where to find simplification information
  • latest news
    • Registered Pension Schemes Manual
    • policy
    • GAD Consultation Tables
    • Pensions Industry Working Group minutes
    • pensions Update 156
    • draft forms
    • preparing for A-Day workshop material
  • technical.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Newsletter Number 5.

Newsletter 4 – September 2005

This includes information on the following:

  • retirement annuity contracts
  • latest news
  • technical points
    • enhanced protection and contributions for life cover
    • relief for employer contributions.

Steve Bee included a summary of this Newsletter in one of his BeeLines - HMRC Tax Simplification – Part 4.

Newsletter 3 – August 2005

This includes information on the following:

Steve Bee included a summary of this Newsletter in one of his BeeLines - Pensions Tax Simplification Newsletter No 3.

Newsletter 2 – July 2005

This includes information on the following:

  • role of the Pensions Industry Working Group (PIWG)
  • industry workshops
  • single point of access for registration of pension schemes
  • hot topics
    • registrations
    • update of data cleanse
  • latest news

Steve Bee included a summary of this Newsletter in one of his BeeLines - Return to the Nightmare on Tax-Free Cash Street.

Newsletter 1 – June 2005

This includes information on the following:

  • about pensions simplification
    • what is Pensions Tax Simplification?
    • when does it start?
    • key features of the new system
    • key benefits
    • who will benefit?
  • hot topics
    • IT and data cleanse
    • role of the administrator
  • timeline to A-Day.

Steve Bee included a summary of this Newsletter in one of his BeeLines - The forms for Enhanced and Primary Protection.

 

Any research and analysis has been provided by us for our own purposes and the results of it are being made available only incidentally.

 

First published 8 September 2006

Updated 20 December 2011

For professional advisers only