CIPP comment The next meeting is due to be held on Monday 2 October 2017; if you have anything you would like Policy to raise on your behalf, please email us with the details by 18 September.
Back to Contents
Failure to provide information in connection with BHS sale leads to prosecution 25 August 2017
The Pensions Regulator (TPR) is to prosecute Dominic Chappell for failing to provide information and documents it requested during its investigation into the sale of BHS.
Dominic Chappell was the director and majority shareholder of Retail Acquisitions Ltd at the time that the company purchased BHS for £1 back in 2015.
TPR is prosecuting Mr Chappell for failing to comply with three notices issued under Section 72 of the Pensions Act 2004 . The notices requiring information were issued to Mr Chappell on 26 April 2016, 13 May 2016 and 20 February 2017. He has been sent a summons to appear at Brighton Magistrates’ Court on 20 September 2017 to face three charges of neglecting or refusing to provide information and documents, without a reasonable excuse, when required to do so under section 72 of the Pensions Act 2004, contrary to section 77(1) of that Act. Failure to provide such information without a reasonable excuse is a criminal offence which can result in an unlimited fine. Additionally, those involved can suffer serious reputational damage from being convicted of non-compliance with the law. Businesses could also face further action from their professional body.
Back to Contents
Countdown Bulletin published 31 August 2017
These Bulletins provide guidance and updates to pension scheme administrators about the ending of contracting-out - part of the new State Pension which was brought in on 6 April 2016.
The Bulletin highlights that there are only 13 months left to submit your final Scheme Reconciliation Service (SRS) queries to HMRC via SRS. HMRC will only accept scheme queries submitted up to October 2018 so that they can be resolved by the December 2018 service end date.
Countdown bulletin 27 also includes updates on
Clerical query responses Completion of query templates and reject reasons Spouse Details Automated Solution Aggregated employments periods and refund of CEPs requests Scheme Reconciliation re-run requests
Previous editions of the Countdown Bulletin are available on GOV.UK.
These bulletins are produced by the National Insurance Services to Pensions Industry (NISPI).
Back to Contents
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
Page 448 of 516
Made with FlippingBook - Online magazine maker