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Pension schemes: regulations

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The Registered Pension Schemes (Reduction in Pension Rates, Accounting and Assessment) (Amendment) Regulations, SI 2013/1111, require scheme administrators who pay an annual allowance charge on behalf of a member to provide details of the tax year to which the charge relates.

The Pension Schemes (Miscellaneous Amendments) Order, SI 2013/1114, provides a definition of current standard lifetime allowance (CSLA) in the formula for calculating the maximum amount that can be paid as a tax free lump sum from a registered pension scheme in certain specified circumstances; repeals incorrect return penalty legislation relating to UK registered pension schemes that is now obsolete; and reinstates the power for HMRC to de-register pension schemes in certain circumstances.

The Pension Protection Fund (Tax) (Amendment) Regulations, SI 2013/1117, deal with the taxation of PPF compensation payments and PPF money purchase lump sums.