Income Tax (Earnings and Pensions) Act 2003 section 589

Regulations

Section 589 gives HMRC the power to make regulations for administering the tax charges on payments from non-approved retirement benefit schemes covered by this chapter.

• HMRC may create regulations to manage the administration of tax charges arising under this chapter.
• The chapter deals with charges on payments and benefits from employer-financed retirement benefit schemes that do not have approved tax status.
• The regulation-making power allows HMRC to set out procedural and reporting requirements related to these charges.
• This provision was originally derived from the former section 612(3) of the Income and Corporation Taxes Act 1988 and was subsequently amended by the Finance Act 2004.