The Pension (Non-Taxable Payments Following Death) (Real Time Information) Regulations 2021

29 April 2021

The Pension (Non-Taxable Payments Following Death) (Real Time Information) Regulations 2021 regulations were laid before the House of Commons on 27 April 2021.

The Regulations mean that pension payers must send specific information to HMRC under Real Time Information (RTI) in relation to some of the payments made in respect of members of registered pension schemes following the death of a member, where those payments are not taxable as Pay As You Earn (PAYE) pension income. This essentially means that the payments are non-taxable.

These Regulations will come into force from 6 April 2022.

It is currently mandatory for pension payers making payments of PAYE pension income to send certain data relating to those payments to HMRC, but these Regulations extend that requirement to payments of certain non-taxable payments, not covered by the current requirements.

An associated policy paper has been published by HMRC.

 


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