Citation, commencement and interpretation

1. —(1) These Regulations may be cited as the Registered Pension Schemes (Notice of Joint Liability for the Annual Allowance Charge) Regulations 2011 and shall come into force on 11th August 2011.

(2) In these Regulations—

“the further notice” means a notice given by an individual to a scheme administrator in accordance with regulation 4;

“the notice” means a notice given by an individual to a scheme administrator in accordance with section 237B(3) of the Finance Act 2004; and

“relevant tax year” means the tax year to which the notice relates.

Particulars to be included in the notice

2. —(1) An individual must include the following particulars in the notice—

(a) the individual’s title, full name and address (including post code, if applicable),

(b) the individual’s national insurance number, subject to paragraph (4),

(c) the amount of the annual allowance charge for which the individual and the scheme administrator will be jointly and severally liable, and

(d) the tax year in which the annual allowance charge arises.

(2) Where the amount specified in the notice is £2,000 or less, the individual must confirm in the notice that the amount of the individual’s liability to the annual allowance charge for the relevant tax year exceeds £2,000.

(3) Where the notice is given to the scheme administrator in the relevant tax year and it is anticipated that in the relevant tax year—

(a) the individual will become entitled to all of the benefits under the pension scheme to which the notice relates (“the relevant scheme”), or

(b) benefit crystallisation events 5, 5A or 5B( 3 ) will occur in relation to the individual under the relevant scheme,

the individual must state in the notice the date on which it is anticipated that the event specified in sub-paragraph (a) or (b) will occur.

(4) Where the individual does not qualify for a national insurance number the individual must set out in the notice the reasons for this in place of the national insurance number.

(5) The notice must be in writing, signed and dated by the individual.

(6) Where the notice is in an electronic format, the requirement in paragraph (5) that the notice must be signed will be satisfied if the notice includes a statement that the individual has personally submitted the notice.

Declaration to be included in the notice

3. —(1) The individual must declare in the notice that the individual understands that—

(a) the notice cannot be revoked, and

(b) future benefits to be paid to the individual from the pension scheme will be adjusted to take account of the payment of the annual allowance charge made by the scheme administrator.

(2) The individual must declare that the amount specified in the notice has been calculated at the correct relevant rate as described in section 237B(4) of the Finance Act 2004.

Amendment to the notice

4. —(1) Where the individual’s liability to the annual allowance charge in relation to the relevant tax year changes after the submission of the notice to the scheme administrator, the individual may amend the notice by sending a further notice to the scheme administrator.

(2) The further notice must comply with regulations 2 and 3.

(3) The further notice must be given to the scheme administrator no later than 31st July following the end of the period of 4 years beginning with the last day of the relevant tax year.

Acknowledgement of receipt of the notice and further notice

5. A scheme administrator must send an acknowledgement to the individual upon receipt of the notice or further notice.