HMRC Countdown Bulletin : October 2019

07 October 2019

Edition 49 of the Countdown Bulletin has recently been published and focuses on guidance surrounding the end of contracting out in relation to pensions and the role that HMRC will play in facilitating this.

 

The Countdown Bulletins provide important guidance and updates to pension scheme administrators about the end of contracting-out.  Although contracting-out came to an end in April 2016, schemes are still submitting termination and transfer notices with end dates on or after 6 April 2016.

 

The National Insurance Services to Pensions Industry (NISPI) countdown bulletins provide additional guidance for pension scheme administrators to enable them to make sure all individuals contracted out pension rights are secured correctly.

 

The Bulletin covers the following areas of interest:

 

  • Final SRS Outputs
  • Scheme Contracted Out Numbers (SCONs)
  • Incorrect GMP
  • Contribution Equivalent Premiums (CEP)
  • Raising queries with HMRC

 

 


Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information. Download the CIPP's Payroll: Need to know - your guide to payroll legislation and reporting for the most up to date data.