The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023

CHAPTER 2 Specified information

Provision of specified information

31.—(1) A specified individual who is not a deceased member on the due date for information must provide specified information to HMRC(1) about the relevant tax years to which paragraph (4) applies—

(a) on or before that date, and

(b) regardless of whether such information has already been provided to HMRC, whether by the specified individual or by any other person.

(2) An assessable representative must provide specified information to HMRC about the relevant tax years to which paragraph (4) applies on or before the due date for information, unless such information has already been provided to HMRC by the specified individual under paragraph (1) or by another assessable representative under this paragraph.

(3) “Specified information” means, in relation to a specified individual and a relevant tax year—

(a) the information and declarations in Column 1 of the Table in the Schedule in all cases;

(b) the information in Column 2 of that Table in cases where the individual has paid, or is liable to, an annual allowance charge;

(c) the information in Column 3 of that Table in cases where the individual has paid, or is liable to, a lifetime allowance charge;

(d) the information in Column 4 of that Table in cases where the individual has paid, or is liable to, an unauthorised payments charge or an unauthorised payments surcharge.

(4) This paragraph applies to—

(a) the tax year 2022-23 where the specified individual—

(i) is a remediable service individual,

(ii) in respect of that tax year, is liable to the lifetime allowance charge, the unauthorised payments charge or the unauthorised payments surcharge, or to any such charge in an increased amount, as a result of the operation of a relevant rectification provision, or

(iii) in respect of that tax year, was liable to a relevant pension tax charge (disregarding the relevant rectification provisions and regulation 14 of the 2023 Regulations) but is no longer so liable, or is liable in a decreased amount, as a result of any of those provisions;

(b) any other relevant tax year where, in respect of that tax year, the specified individual—

(i) is liable to a relevant pension tax charge, or to such a charge in an increased amount, as a result of the operation of a relevant rectification provision or regulation 14 of the 2023 Regulations, or

(ii) was liable to a relevant pension tax charge (disregarding the relevant rectification provisions and regulation 14 of the 2023 Regulations) but is no longer so liable, or is liable in a decreased amount, as a result of any of those provisions.

Specified information: due date for information

32.—(1) Paragraphs (2) to (5) apply to a specified individual who, on 1st October 2023, is—

(a) a Chapter 1 individual or a remediable service individual who is an active or deferred member of a Chapter 1 scheme,

(b) a Chapter 2 individual, or

(c) a Chapter 3 individual.

(2) Where the specified individual dies in the period beginning with 1st November 2024 and ending with 31st January 2025, the due date for information is the date three months after the date of that individual’s death.

(3) Where a scheme administrator provides a pension savings statement to the specified individual on or after 1st November 2024, the due date for information is the date three months after that statement is provided.

(4) Where, on or after 1st November 2024, the specified individual repays excess lump sum benefits to the scheme administrator with the effect of reducing a liability to the unauthorised payments charge for a relevant tax year, the due date for information is the date three months after that repayment is made.

(5) In all other cases, the due date for information for the specified individual is 31st January 2025.

(6) Paragraphs (7) to (11) apply to a Chapter 1 individual or a remediable service individual who is a pensioner member or a deceased member of a Chapter 1 scheme on 1st October 2023.

(7) Where the specified individual dies in the period beginning with 1st November 2026 and ending with 31st January 2027, the due date for information is the date three months after the date of that individual’s death.

(8) Where a scheme administrator provides a pension savings statement or a benefit crystallisation event statement, as the case may be, to or in respect of the individual on or after 1st November 2026, the due date for information is the date three months after that statement is provided.

(9) Where the end of the new scheme election period in respect of the individual falls after 1st November 2026, the due date for information is the date three months after the end of that period.

(10) Where, on or after 1st November 2026, the individual repays excess lump sum benefits to the scheme administrator with the effect of reducing a liability to the unauthorised payments charge for a relevant tax year, the due date for information is the date three months after the date on which that repayment is made.

(11) In all other cases, the due date for information for the specified individual is 31st January 2027.

(12) For the purposes of paragraph (6), a Chapter 1 individual or a remediable service individual is to be treated as a pensioner member if a Chapter 1 new scheme election has been made, or is capable of being made, in respect of the individual.

(13) Where more than one date specified in this regulation could apply to a specified individual, the due date for information for that individual is the latest of those dates.

(14) In this regulation—

“benefit crystallisation event statement” means a statement provided—

(a)

under regulation 14(1) of RPS(PI)R 2006 (information provided to member by scheme administrators about benefit crystallisation events)(2),

(b)

after the relevant time, and

(c)

in relation to a benefit crystallisation event occurring in a relevant tax year;

“excess lump sum benefits” means an amount repaid by a beneficiary under section 14(5) of PSPJOA 2022 (pension benefits and lump sum benefits: pensioner and deceased members);

“pension savings statement” means a statement provided under regulation 14A(5B) or (6ZC) or 14B(2B), (6) or (9) of RPS(PI)R 2006 in relation to a pension input period ending in a relevant tax year;

“the end of the new scheme election period” has the meaning given in section 7(2) of PSPJOA 2022 (elections by virtue of section 6: timing and procedure).

Preservation of documents

33.—(1) A specified individual, or an assessable representative, must preserve any documents in their possession relating to the specified information for a period of 4 years beginning with the due date for information.

(2) Any person who fails to comply with paragraph (1) is liable to a penalty not exceeding £3,000.

(1)

By virtue of regulation 2(2)(a), “HMRC” is defined in regulation 2(1) of the 2023 Regulations as His Majesty’s Revenue and Customs.

(2)

S.I. 2006/567. Regulation 14(1) was amended by S.I. 2008/720.