Statutory Instruments
2013 No. 1114
Income Tax
The Pension Schemes (Miscellaneous Amendments) Order 2013
Made
8th May 2013
Laid before the House of Commons
9th May 2013
Coming into force
1st June 2013
Citation and commencement
1. —(1) This Order may be cited as the Pension Schemes (Miscellaneous Amendments) Order 2013 and comes into force on 1st June 2013.
(2) Article 2 has effect in relation to any information notices given under Part 1 of Schedule 36 to the Finance Act 2008( 4 ) on or after the date on which this Order comes into force.
(3) Article 3 has effect for the tax year 2012-13 and subsequent tax years.
Amendment of section 158 of the Finance Act 2004
2. —(1)Section 158 of the Finance Act 2004(grounds for de-registration) is amended as follows.
(2) In subsection (1)(c) after “this Part” insert “or Part 1 of Schedule 36 to the Finance Act 2008”.
(3) In subsection (5) after “this Part” insert “or Part 1 of Schedule 36 to the Finance Act 2008”.
Amendment of paragraph 34 of Schedule 36 to the Finance Act 2004
3. In paragraph 34(2) (entitlement to lump sums exceeding 25% of uncrystallised rights) of Schedule 36 (transitional provisions) to the Finance Act 2004, in the sub-paragraph (7A) treated as substituted( 5 )—
(a) omit the “and” at the end of the definition of “AC”; and
(b) at the end of the definition of “VUR” insert—
“ , and
CSLA is the current standard lifetime allowance ( 6 ) . ”
Amendments in relation to penalties
4. The following amendments are made in consequence of Schedule 24 to the Finance Act 2007( 7 ) and Schedule 40 to the Finance Act 2008.
5. Omit section 260(6) and (7) of the Finance Act 2004 (accounting return)( 8 ).
6. —(1)The Pensions Benefits (Insurance Company Liable as Scheme Administrator) Regulations 2006( 9 ) are amended as follows.
(2) In regulation 2, for paragraph (4) substitute—
“ (4) The insurance company is liable to the penalties under—
(a) Schedule 24 to the Finance Act 2007 (penalties for errors); and
(b) Schedule 55 to the Finance Act 2009 (penalty for failure to make returns)
if it fails to comply with the obligations imposed by section 254(1) to (7) as applied to it by virtue of paragraphs (2) and (3). ”
7. —(1)The Registered Pension Schemes (Splitting of Schemes) Regulations 2006( 10 ) are amended as follows.
(2) In the Table in Part 1 of Schedule 3, omit the entry relating to section 260(6).
(3) In Part 1A of Schedule 3 (Other Legislation)—
(a) omit “Schedule 55 to the Finance Act 2009 (penalty for failure to make returns)”; and
(b) insert—
“ Statutory Reference | Subject-matter |
|---|---|
| Schedule 24 to the Finance Act 2007 | Penalty for carelessly or deliberately making an incorrect return under section 254 of the Finance Act 2004 |
| Schedule 55 to the Finance Act 2009 | Penalty for failure to make returns ” |
8. —(1)The Registered Pension Schemes and Overseas Pension Schemes (Electronic Communication of Returns and Information) Regulations 2006( 11 ) are amended as follows.
(2) In Schedule 2 (information which may be supplied either to or by Revenue and Customs by an approved method of electronic communications), in the entry which begins “a notice of appeal against the imposition of a penalty”—
(a) omit “(d) section 260 (fraudulently or negligently making an incorrect return)”; and
(b) after entry (j) insert—
“ (ja) Schedule 24 to the Finance Act 2007 (penalties for errors) in respect of an error in a return under section 254 of the Finance Act 2004; ”
Mark Lancaster
Desmond Swayne
Two of the Lords Commissioners of Her Majesty’s Treasury
8th May 2013
2004 c. 12 ; section 281(2A) was inserted by the Finance Act 2006 (c. 25) , section 161 and Schedule 23, paragraph 34(2); section 282(A1) was inserted by the Finance Act 2009 (c. 10) , section 75(1).
Schedule 36 has been amended by the Finance Act 2009, section 96 and Schedule 48, paragraph 11. There are other amending instruments which are not relevant.
Sub-paragraph (7A) treated as substituted was amended by the Finance Act 2011 (c. 11) , Schedule 16, paragraphs 62 and 82(1) and (5) and modified by articles 23ZA, 23ZD, 23ZE and 23D of S.I. 2006/572 (articles 23ZA, 23ZD and 23ZE were inserted by S.I. 2009/1172 and article 23D was inserted by S.I. 2011/732 ).
The amount of the “standard lifetime allowance” is given in section 218(2) for the tax year 2012-13 and subsequent tax years, subject to increase (for tax years subsequent to 2012-13) by the Treasury (by order under section 218(3)).
Section 260 has been amended by article 14 of S.I. 2011/702 .
S.I. 2006/136 as amended by article 17 of S.I. 2011/702 .
S.I. 2006/569 as amended by article 18 of S.I. 2011/702 .
S.I. 2006/570 as amended by regulation 2 of S.I. 2010/652 and article 19 of S.I. 2011/702 . There are other amending instruments which are not relevant.
The power to withdraw the registration of a pension scheme is conferred on the Inland Revenue under section 157 of the Finance Act 2004. As a consequence of section 50 of the Commissioners for Revenue and Customs Act 2005 (c. 11) that power is now exercisable by an officer of Her Majesty’s Revenue and Customs.
Sections 252, 253 and 259 of the Finance Act 2004 were repealed by paragraph 13 of the Schedule to the Finance Act 2009, section 96 and Schedule 48 (Appointed Day, Savings and Consequential Amendments) Order 2009 ( S.I. 2009/3054 ).