Explanatory note

These Regulations make provision for relief from tax on payments made to scheme administrators of registered pension schemes under Part 4 of the Finance Act 2004 (c. 12).

Regulation 1 provides for the citation and commencement of these Regulations, and regulation 2 for the interpretation of terms used in them.

Regulations 3 to 6 prescribe conditions which are to be satisfied in order for relief to be given at source in respect of payments of contributions to registered pension schemes. Regulation 7 deals with persons under a legal disability and those who have physical difficulties in signing documents. Regulation 8 makes provision for electronic documents.

Regulations 9 to 12 make provision about claims to relief.

Regulations 13 and 14 deal with the recovery of relief in circumstances where it should not have been allowed.

Regulations 15 and 16 deal respectively with information which is required to be given to HM Revenue and Customs for inspection by them of records maintained by the scheme administrator.

Regulation 17 contains a transitional provision continuing the effectiveness of information delivered, and declarations made, under the Personal Pension Schemes (Relief at Source) Regulations 1988.

A regulatory impact assessment in respect of the provisions of Part 4 of the Finance Act 2004 and subordinate legislation under it was published by the Board of Inland Revenue on 8 April 2004, and is available on the Inland Revenue website at www.inlandrevenue.gov.uk/ria/simplifying-pensions.pdf or obtained by writing to HM Revenue and Customs , Capital & Savings Ministerial Correspondence Unit, 1st Floor, Ferrers House, PO Box 38, Castle Meadow Road, Nottingham, NG2 1BB.