The Pensions Tax Manual (PTM) which was drafted earlier in the year and replaces the Registered Pension Schemes Manual (RPSM) has now been updated and is published on GOV.UK .
The PTM has also been updated to take reflect the changes introduced by Finance Act 2015, however it does not currently contain guidance on the changes made by Finance (No 2) Act 2015. These changes will be included in a future update. The manual search facility has also been reinstated. This updated version of the PTM does not indicate where pages have been updated, however within HMRC’s next Pension Schemes Newsletter ; a list of the significant changes to the PTM will be included. In the interim you can view the table of the significant changes through the link below.
PTM changes - December 2015
At a Pensions Industry Stakeholder Forum held in June, attendees were “…reassured that for future PTM updates a list of the updated pages would be provided…”. The CIPP Policy Team is extremely pleased to see that this reassurance has been followed through as the list will ease the navigation of this extensive guidance.
If you have any comments on the PTM these can still be submitted to PTM Consultation .
Pensions Tax Manual errors 14 December 2015
We published news last week that the Pensions Tax Manual (PTM) has now been updated and published on GOV.UK . Some formatting errors have since been identified.
With thanks to eagle eyed members and stakeholders for letting the Pensions team know about the errors. They are aware of a number of types of problems and are working to resolve them as soon as possible. Examples of the issues are:
PTM page reference and link missing within text Inverted commas at start of sentence Legislative reference not shown as heading style Section heading not a heading and run into preceding paragraph Asterisks around text Glossary terms not in bold 'Top of page' link absorbed into previous paragraph Bullets formatting problem Bookmark links at top of page do not work
There is no need to contact HMRC about any further instances of these types of problem.
Any other comments on the PTM should be sent to ptm.consultation@hmrc.gsi.gov.uk.
The Pensions Regulator website survey 14 December 2015
The Pensions Regulator is keen to make sure that you are getting everything you want from their website to help you to support your clients through automatic enrolment. Please provide your thoughts through a short survey.
By completing this short survey you will be helping the Regulator to ensure their website stays relevant and useful. Your feedback is valued.
Reduction of the lifetime allowance - scheme members 15 December 2015
HMRC continue to raise awareness of the reduction in the lifetime allowance and we recently published some information for scheme administrators . HMRC’s latest pension schemes newsletter provides steps that affected
CIPP Policy News Journal
25/04/2016, Page 379 of 453
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