Statutory Instruments
2014 No. 1928
Income Tax
The Registered Pension Schemes (Accounting and Assessment) (Amendment) Regulations 2014
Made
21st July 2014
Laid before the House of Commons
22nd July 2014
Coming into force
1st September 2014
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Registered Pension Schemes (Accounting and Assessment) (Amendment) Regulations 2014 and shall come into force on 1st September 2014.
(2) In relation to a person’s liability to pay tax under regulations made under section 273ZA of the Finance Act 2004 (income and gains from taxable property)( 3 ), these Regulations have effect for any liability arising on or after 1st September 2014.
Amendment of the Registered Pension Schemes (Accounting and Assessment) Regulations 2005
2.The Registered Pension Schemes (Accounting and Assessment) Regulations 2005( 4 ) are amended as follows.
3. In regulation 4(1), insert the following entries at the appropriate places in Table 2—
| “ Case 6A: section 272C of the Act (former scheme administrator etc to retain liability) ( 5 ) applies. | The person or persons specified as assuming liability under section 272C(3), (4) or (7) of the Act. |
| Case 7A: a charge to tax arises under regulations made under section 273ZA of the Act (income and gains from taxable property). | The person liable to the charge. ” |
4. In regulation 5(3) in Table 3—
(a) in the row for tax assessed under case 6 or 7—
(i) in Column 1, after “case 6” insert “, 6A”;
(ii) in Column 2, after “sections 272” insert “, 272C”;
(b) insert the following entry at the appropriate place—
| “ Tax assessed under Case 7A. | 31st January following the end of the tax year in which the charge arose. ” |
5. In regulation 8(1), for “3, 6 or 7” substitute “3, 6, 6A, 7 or 7A”.
6. In regulation 8(2), for “(a)” substitute “(ab)”.
7. In regulation 8(3)—
(a) at the end of inserted paragraph (d) delete “or” and insert—
“ (da) is chargeable on a person or persons under section 272C of the Finance Act 2004 (former scheme administrator etc to retain liability), ” ;
(b) after inserted paragraph (e) insert—
“ , or
(f) is chargeable on a person under regulations made under section 273ZA of the Finance Act 2004 (income and gains from taxable property). ” .
Ruth Owen
Jim Harra
Two of the Commissioners for Her Majesty’s Revenue and Customs
21st July 2014
2004 c. 12 . Section 255 was relevantly amended by paragraph 17 of Schedule 7 to the Finance Act 2014 (c. 26) .
The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5(1) of the Commissioners for Revenue and Customs Act 2005 (c. 11) . Section 50(1) of that Act provides that, in so far as it is appropriate in consequence of section 5, a reference, however expressed, to the Commissioners of Inland Revenue is to be read as a reference to the Commissioners for Her Majesty’s Revenue and Customs.
Section 273ZA was inserted by paragraph 10 of Schedule 21 to the Finance Act 2006 (c. 25) .
S.I. 2005/3454 , to which there are amendments not relevant to these Regulations.
Section 272C was inserted by paragraph 19 of Schedule 7 to the Finance Act 2014.