The Registered Pension Schemes (Authorised Payments) (Amendment) (No.2) Regulations, SI 2012/1881, allow certain pension schemes to make payments of a newly specified description as ‘authorised payments’ for tax purposes. ‘Without these changes, scheme administrators and members could become liable for unauthorised payments tax charges on certain payments made from 6 April 2012 onwards,’ HMRC said.
The Registered Pension Schemes (Authorised Payments) (Amendment) (No.2) Regulations, SI 2012/1881, allow certain pension schemes to make payments of a newly specified description as ‘authorised payments’ for tax purposes. ‘Without these changes, scheme administrators and members could become liable for unauthorised payments tax charges on certain payments made from 6 April 2012 onwards,’ HMRC said.
