The Registered Pension Schemes (Minimum Contributions) Regulations 2005

• Citation: S.I. 2005/3450
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Registered Pension Schemes (Minimum Contributions) Regulations 2005 and shall come into force on 6th April 2006.

Section 2 Recovery of amounts representing basic rate tax

(1) Subsections (1), (1B), (4) and (5) of section 30 of the Taxes Management Act 1970 (recovery of overpayments of tax, etc. ) shall apply in relation to the payment by the Commissioners for Her Majesty’s Revenue and Customs of an amount, by way of minimum contributions under section 202 of the Finance Act 2004, which—

(a) they were not required to pay, or

(b) they were required to pay, but which they paid to persons other than the scheme administrator of the registered pension scheme to whom they should have made the payment,

as if a sum representing income tax at the basic rate on the amount paid (“the notional repayment sum”) had been income tax repaid to the person to whom, or in respect of whom, the amount was paid, and to which that person was not entitled.

(2) An assessment made by virtue of paragraph (1) shall be made by an officer of Revenue and Customs and the provisions of the Taxes Management Act 1970 shall apply to the assessment as if it were an assessment to tax for the year of assessment in respect of which the amount of the notional repayment sum was paid.