# The Registered Pension Schemes (Accounting and Assessment) (Amendment) Regulations 2014, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend regulations 4, 5 and 8 of the Registered Pension Schemes (Accounting and Assessment) Regulations 2005 (S.I. 2005/3454) (“the principal Regulations”) in relation to the assessment of liabilities to tax under Part 4 of the Finance Act 2004 (c. 12) (“the 2004 Act”).
Regulation 4 of the principal Regulations provides for cases where an officer of Revenue and Customs issues an assessment to tax to, amongst others, a person who is liable to the scheme sanction charge and a person who has assumed liability to tax under section 272 or 273 of the 2004 Act. Regulation 5 provides for interest to be charged if the tax is unpaid by the reckonable date and regulation 8 modifies section 9(1A) of the Taxes Management Act 1970 (c. 9) in order to exempt the chargeable person from the requirement to make a self-assessment of the tax.
Regulation 3 of these Regulations amends Table 2 in regulation 4 of the principal Regulations. It adds new cases 6A and 7A to Table 2. Case 6A requires HMRC to make an assessment to tax on a person specified in section 272C of the 2004 Act as assuming any of the liabilities mentioned in section 272A(7) of that Act. Case 7A requires HMRC to make an assessment on a person who is liable to a charge to tax under regulations made under section 273ZA of the 2004 Act. This case applies to the property enjoyment scheme sanction charge, imposed by regulation 10 of the Pension Schemes (Taxable Property Provisions) Regulations 2006 (S.I. 2006/1958) made under section 273ZA of the 2004 Act.
Regulation 4 of these Regulations amends Table 3 in regulation 5 of the principal Regulations and provides for interest to be charged on tax assessed under cases 6A and 7A.
Regulations 5 to 7 amend regulation 8 of the principal Regulations in order to add the circumstances arising under cases 6A and 7A to the exemptions from the self-assessment requirement in section 9(1A) of the Taxes Management Act 1970.
A Tax Information and Impact Note covering this instrument was published on 19th March 2014 and is available on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm. It remains an accurate summary of the impacts that apply to this instrument.

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Source: https://www.legislation.gov.uk/uksi/2014/1928/note (the official version)
Page: https://openlegislation.uk/registered-pension-schemes-accounting-and-assessment-amendment-regulations-2014/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.