Statutory Instruments
2022 No. 723
Income Tax
The Registered Pension Schemes (Authorised Member Payments) Regulations 2022
Made
29th June 2022
Laid before the House of Commons
30th June 2022
Coming into force
1st August 2022
Citation and commencement
1. These Regulations may be cited as the Registered Pension Schemes (Authorised Member Payments) Regulations 2022 and come into force on 1st August 2022.
Interpretation
2. In these Regulations—
“ 2022 Act ” means the Dormant Assets Act 2022 ( 3 );
“ dormant ” has the meaning given in section 7 of the 2022 Act;
“ eligible pension benefits ” has the meaning given in section 6 of the 2022 Act;
“ transfer ” means a transfer of the description given in section 5(1) of the 2022 Act.
Prescription of authorised member payments
3. A transfer of dormant eligible pension benefits is a payment of a description that is prescribed for the purposes of section 164(1)(f) of the Finance Act 2004 (authorised member payments).
Angela MacDonald
Jim Harra
Two of the Commissioners for Her Majesty’s Revenue and Customs
29th June 2022
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.