The UK’s tax deal with Switzerland is expected to come into force in 2013, following scrutiny by Parliament and after ratification procedures in Switzerland are complete, HM Treasury said.
An application form for use by individuals seeking ‘fixed protection’ of the £1.8 million lifetime allowance for pension savings has been published.
The current lifetime allowance of £1.8 million will be reduced to £1.5 million from 6 April 2012.
Payments made under the Equitable Life Payment Scheme are to be free of tax and disregarded for tax credits purposes.
The Registered Pension Schemes (Provision of Information) (Amendment) (No.2) Regulations, SI 2011/1797, make amendments to SI 2006/567 to reflect FA 2011 changes to the pensions tax regime.
Eight statutory instruments published last week make changes to the pensions tax regime. A list of instruments expected to be laid following the coming into force of FA 2011 was provided in an annex to the explanatory memorandum to SI 2011/1751 (see below).