C Irby v HMRC

In C Irby v HMRC (TC01979 – 21 May) a company director (C) had set up a personal pension plan in 1999. By April 2006 the value of the plan exceeded £4 000 000. In 2010 he decided to change the trustee of his pension plan. The new trustee advised him that he should have submitted an election under the Registered Pension Schemes (Enhanced Lifetime Allowance) Regulations SI 2006/3261. C subsequently discovered that the previous trustee had failed to do this. In September 2010 he submitted a late election. HMRC rejected the claim on the basis that the time limit laid down by SI 2006/3261 had expired on 5 April 2009. C appealed contending that he had a reasonable excuse because he had relied on the company (UB) which had been acting as the trustee of his pension plan to make the necessary application. The First-tier...