Pensions tax guidance

HMRC has updated its Pensions Tax Manual to reflect changes made by FA 2018 and the regulations SI 2018/5, SI 2018/150 and SI 2018/373. In particular, the following content has been updated:

• the section on reportable events has been revised to include a new reportable event when a scheme becomes, or ceases to be, a master trust scheme, as introduced by SI 2018/5;
• the guidance on when HMRC can de-register and refuse to register a pension scheme is revised to reflect changes to FA 2004 ss 153 and 158 as introduced by FA 2018 Sch 3 para 1;
• the section on occupational pension schemes has been revised to reflect the new FA 2004 274B as introduced by FA 2018 Sch 3 para 1;
• the guidance has revised to reflect legislative changes introduced by SI 2018/150; and
• new content has been added on ring-fenced transfer fund and ring-fenced taxable asset transfer fund, to reflect changes made by SI 2018/373.