HM Revenue & Customs publishes Pensions Tax Simplification Newsletter No 23
17 January 2007
This latest update from HM Revenue & Customs includes:
- A list of the main provisions of the Chancellor's recent pre-budget report with direct links to the appropriate Revenue documents including consultation and draft legislation
- Confirmation that the Government has asked HM Revenue & Customs to enter into discussions with the industry on implementation
- Clarification that QROPS may meet Revenue tax requirements, however, such schemes may not meet with local acceptability requirements
- Clarification on reporting requirements for those schemes set up on or after 6th April 2006 where such schemes are wound up
- Outlining the importance of a Pension Scheme Tax Reference and why it is required for reporting purposes
- Guidance on how to use the Registered Pension Schemes Manual, highlighting the point that, although structured for different target audiences, readers should check all sections to get the complete picture on any given subject
For full details please visit the HM Revenue & Customs website.