Regulation 17 Information provided by the FAS scheme manager to Her Majesty’s Revenue and CustomsI1

United Kingdom

(1)

F1If the amount of a lump sum paid to a qualifying member under regulation 17D or a payment made in respect of a qualifying member under regulation 18A in the form of a lump sum exceeds the permitted maximum in relation to the lump sum, within three months of the payment the FAS scheme manager must provide a report to Her Majesty’s Revenue and Customs setting out—

(a)

the name, date of birth, address and national insurance number of the member;

(b)

the date of the F2payment;

(c)

the amount F3of the lump sum;

(d)

if the member has benefited from an enhanced F4... allowance or enhanced protection, the reference number issued under the Registered Pension Schemes (Enhanced F5Allowances) Regulations 2006 in respect of that entitlement; and

F6(e)

the amount by which the amount of the lump sum exceeds the permitted maximum in relation to the lump sum.

F7(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Words in reg. 17(1) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(i)
F2: Word in reg. 17(1)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(ii)
F3: Words in reg. 17(1)(c) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(iii)
F4: Word in reg. 17(1)(d) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(iv)
F5: Word in reg. 17(1)(d) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(iv)
F6: Reg. 17(1)(e) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(v)
F7: Reg. 17(2) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(b)

Commencement

I1: Reg. 17 in force at 1.5.2010, see reg. 1(1)

Notes on Part 3

Textual amendments

F1: Pt. 3 heading substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(4)