PART 3DEDUCTION AND REPAYMENT OF TAX

CHAPTER 3F4NEW PENSIONERS: FORMS P45 AND P46(PEN)

Annotations:

PAYE pension income paid by former employerI155

1

This regulation applies if the pension payer was, immediately before the pensioner’s retirement, the pensioner’s employer and so, in accordance with regulation 36(3), no Form P45 was completed.

2

On making relevant pension payments to the pensioner, the pension payer must deduct tax on the non-cumulative basis, subject to regulation 32 (higher rate code: deductions), for the remainder of the tax year in which the pension starts or until directed otherwise by the Inland Revenue.

3

Within 14 days after the pensioner’s retirement, the pension payer must prepare a F3Form P46(Pen) and—

a

send it to the Inland Revenue, and

b

give F2a copy of the information to the pensioner.

4

The F3Form P46(Pen) must contain the following information—

a

the pensioner’s name,

b

the pensioner’s address, F5...

F1ba

the pensioner’s date of birth,

bb

the pensioner’s sex,

c

the pensioner’s national insurance number, if known,

d

the pension payer’s PAYE reference,

e

the date of retirement,

f

the total payments to date at the date of retirement,

g

the total payments to date relating to the employment in question at the date of retirement,

h

the total net tax deducted corresponding to the total payments to date relating to the employment in question,

i

the amount of pension payable F7annually,

j

any number used to identify the pensioner,

k

whether the pensioner’s code is use on the cumulative basis,

l

the pension payer’s name, and

m

the pension payer’s address.

5

Paragraph (4) is subject to regulation 212 (modifications for electronic version of F3Form P46(Pen)F6...).