PART 1INTRODUCTION
Citation, commencement and effect
1.
(1)
These Regulations may be cited as the Registered Pension Schemes (Authorised Payments) Regulations 2009 and shall come into force on 1st June 2009.
(2)
These Regulations shall have effect—
(a)
for payments of a description within Part 2, in relation to payments made on or after 1st December 2009; and
(b)
Interpretation
2.
(1)
Any reference in these Regulations to a numbered section or a paragraph of a Schedule, without more, is a reference to the section or paragraph of the Finance Act 2004 bearing that number.
(2)
Any reference in these Regulations to a person’s being entitled to a payment—
(a)
(b)
(3)
(4)
For the purpose of these Regulations,
(a)
a pension scheme is related to another pension scheme if each of them is—
(i)
(ii)
a pension scheme relating to the same employment; but
(b)
(5)
In these Regulations—
“controlling director” has the meaning given by section 273(9) (members liable as scheme administrator);
“excluded transfer” means—
(a)
(b)
any other transfer to the pension scheme of any sums or assets held for the purposes of, or representing accrued rights under, another pension scheme.
Prescribed payments and taxation
3.
A payment by a registered pension scheme to or in respect of a member that is described in Part 2 of these Regulations—
(a)
is a payment of a prescribed description for the purposes of section 164(1)(f) (authorised member payments);
(b)
(c)
4.
A payment by a registered pension scheme that is described in Part 3 of these Regulations, to the extent specified in the regulation concerned—
(a)
is a payment of a prescribed description for the purposes of section 164(1)(f) of the Finance Act 2004;
(b)
shall be treated as pension paid to the recipient under a registered pension scheme for the purposes of Part 9 of ITEPA 2003; and
(c)
shall be treated for those purposes as pension accruing in the tax year in which it is paid.
5.
A payment by a registered pension scheme that is described in Part 4 of these Regulations—
(a)
is a payment of a prescribed description for the purposes of section 164(1)(f) of the Finance Act 2004; and