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BeeHive  >  BeeLines  >  HMRC Simplification Newsletters #16 and #17

HMRC Simplification Newsletters #16 and #17

Itís non-stop isnít it?Just to save me getting too far behind again Iíve got hold of the latest two copies of Her Majís Revenue & Customs guysí pensions tax simplification newsletters for you.Needless to say thereís a lot going down at the moment on the pensions simplification front (like when isnít there?), but these newsletters I think are pretty well written in the main and cover off a lot of the fiddly stuff in a readable way.Itís also worth reading this kind of thing from the horseís mouth, of course, particularly if youíre in the business of giving people advice based on it.

Newsletter #16

The subjects covered off in this issue are listed below and the web document itself can be accessed bit by bit (so you can read just the bits you want) just by clicking on the links that follow here.I think youíll be particularly interested in the trivial commutation stuff and the way emergency tax coding works as I know this is something that comes up quite a lot.

Anyway, the links are here:

  1. Introduction
  2. Things you no longer need to tell us
  3. Who we can talk to about a registered pension scheme
  4. Trivial commutation lump sums - Taxation through the PAYE system
  5. How do you know that your scheme has been registered?
  6. New Forms for Overseas Schemes
  7. Draft Forms Ė Event Report and Pension Scheme Return
  8. Amend Scheme Details Form APSS 152 Ė advice on completion
  9. Legislation
  10. APSS and Joint Working Group Minutes
  11. Addendum to Newsletter 14
  12. Pensions Simplification - Pipeline Lump Sum Death Benefits
  13. Reporting Form1SF -reminder
  14. Newsletter 15
  15. Pensions Industry Working Group Minutes for 4 May meeting

Also, if youíd like to print out a copy of the whole of issue #16 for your files you can get a copy of it by following this link here:

http://www.hmrc.gov.uk/pensionschemes/newsletter16.htm

Newsletter #17

Same again for Newsletter #17.Again some interesting stuff, particularly with regard to the way Normal Pension Ages are to change in 2010.Also some good detail on Transfers and Enhanced Protection where Protected Rights get in the way (another inbox perennial):

  1. Introduction
  2. Registered Medical Practitioners
  3. Payments to members aged under 55 when the Normal Minimum Pension Age changes in 2010
  4. Permitted Transfers and Enhanced Protection
  5. Assignments and Section 172
  6. Legislation & Regulations
  7. Pension Schemes Online
  8. Accounting for Tax Ė a reminder
  9. Accounting for Tax Returns: Accounting for the Lifetime Allowance charge
  10. Transfers to Qualifying Recognised Overseas Pension Schemes (QROPS)
  11. 1SF reminder

The link, again, to a†copy of the whole thing is here if you find things easier that way:

http://www.hmrc.gov.uk/pensionschemes/newsletter17.htm

Thatís all folks!

Steve Bee

3 August 2006

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