Consultations & legislation
Implementing the restriction of pensions tax relief
At the 2009 Pre-Budget Report the Government launched a formal consultation on the implementation of the restriction of pensions tax relief and welcomes responses from interested parties.
The Exchequer Secretary opened an introductory event on 17 December 2009. She explained the policy background and reiterated the value of stakeholder engagement throughout the 12 week consultation.
At this event Mike Williams (Director, Personal Tax & Welfare Reform) gave an overview of the key issues addressed in the consultation document The implementation of the restriction of pensions tax relief, and stakeholders an opportunity to share initial views and questions on it.
The event marked the start of a proactive consultation period. Stuart Glassborow (Team Leader on Pensions Tax) outlined the process for engaging with stakeholders through workshops, events and bilateral meetings.
Workshops
Our workshop on Scheme Pays will be held on Friday 5th February at HMRC/HMT, 1 Horseguards Road, London. Arrival at 13:15 for a 13:30 start.
Our workshop on Defined Benefit Schemes, held on 19 January 2010, at Church House, covered:
- a run-through of the methods for valuing deemed contributions;
- practical and technical questions on age-related factors; and
- consideration of the administrative impacts of these methods.
Our workshop on Operation and Impacts, held on 22 January 2010, at HM Treasury, covered:
- determining and reporting income, contributions and recovery charges;
- the draft clauses;
- scheme pays approach; and
- the impacts on individuals, employers and pension schemes.
Edinburgh Workshop – Wednesday 10th February 2010
- Defined Benefit Scheme
- Operation and Impact
Draft Legislation Workshop – Tuesday 16th February 2010
Our workshop on HMRC-HMT Delivery Process, held on 24th February 2010, at HMRC/HMT, covered:
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