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Pensions Act 2008 (C
(SD851/09) Pensions Act 2008 (c. 30) Contents The Pensions Act 2008 (Application) Order 2009 (SD851/09) was made 14 November 2009 and approved by Tynwald 19 January 2010. Article 3(1) of that Order provides that “the applied legislation” means the legislation applied by article 4 which is the Pensions Act 20081, as modified and shown in the Schedule to that Order. Article 2(2) of that Order provides that once it is approved by Tynwald, each provision of the applied legislation shall come into operation, or shall be deemed to have come into operation, at the same time as the equivalent provision commenced in Great Britain2. PENSIONS ACT 2008 CHAPTER 30 CONTENTS Part 1 - Pension scheme membership for jobholders 1. to 99. (Not applied) Part 2 - Simplification etc Private pensions 100. Abolition of safeguarded rights 101. Revaluation of accrued benefits etc State pensions etc 102. Consolidation of additional pension (Repealed) 103. Effect of entitlement to guaranteed minimum pension (Repealed) 104. Additional pension etc: minor and consequential amendments 105. State pension credit: extension of assessed income period for those aged 75 or over (Not applied) 106. Contracting-out: abolition of all protected rights Part 3 - Pension compensation Chapter 1 - Pension compensation on divorce etc (Not applied) Chapter 2 - Other provision about pension compensation (Not applied) Part 4 - Financial assistance scheme (Not applied) Part 5 - Miscellaneous Miscellaneous provision relating to pensions (Not applied) State and official pensions 135. Additional Class 3 contributions 136. Additional Class 3 contributions (Northern Ireland) (Not applied) 137. Official pensions: adjustment of increases in survivors’ pensions 138. -
Tax Dictionary T
Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 1 T T Tax code Suffix for a tax code. This suffix does not indicate the allowances to which a person is entitled, as do other suffixes. A T code may only be changed by direct instruction from HMRC. National insurance National insurance contribution letter for ocean-going mariners who pay the reduced rate. Other meanings (1) Old Roman numeral for 160. (2) In relation to tapered reduction in annual allowance for pension contributions, the individual’s adjusted income for a tax year (Finance Act 2004 s228ZA(1) as amended by Finance (No 2) Act 2015 Sch 4 para 10). (3) Tesla, the unit of measure. (4) Sum of transferred amounts, used to calculate cluster area allowance in Corporation Tax Act 2010 s356JHB. (5) For the taxation of trading income provided through third parties, a person carrying on a trade (Income Tax (Trading and Other Income) Act 2005 s23A(2) as inserted by Finance (No 2) Act 2017 s25(2)). (6) For apprenticeship levy, the total amount of levy allowance for a company unit (Finance Act 2016 s101(7)). T+ Abbreviation sometimes used to indicate the number of days taken to settle a transaction. T$ (1) Abbreviation: pa’anga, currency of Tonga. (2) Abbreviation: Trinidad and Tobago dollar. T1 status HMRC term for goods not in free circulation. TA (1) Territorial Army. (2) Training Agency. (3) Temporary admission, of goods for Customs purposes. (4) Telegraphic Address. (5) In relation to residence nil rate band for inheritance tax, means the amount on which tax is chargeable under Inheritance Tax Act 1984 s32 or s32A. -
Red Tape Robin Ellison Frontmatter More Information
Cambridge University Press 978-1-108-42695-4 — Red Tape Robin Ellison Frontmatter More Information RED TAPE Red Tape tells the sometimes astonishing story of the making of laws, both good and bad, the recent explosion in rule making and the failure of repeated attempts to rationalise the statute books – even governments themselves are concerned about the increasing number and complexity of our laws. Society requires the rule of law, but the rule of too much law means that the general public faces frustrating excesses created by overzeal- ous regulators and lawmakers. Robin Ellison reveals the failure of repeated attempts to limit the number and complexity of new laws, and the expan- sion of regulators. He challenges the legislature to introduce fewer yet bet- ter laws and regulators by encouraging lawmakers to adopt practices that improve the eiciency of the law and the lives of everyone. Too much law leads to frustration for all – Red Tape is a long overdue exposé of our legal system for practitioners and consumers alike. robin ellison is a solicitor, a consultant with an international law irm, Pinsent Masons, where he specialises in the development of pensions and related inancial services products for insurers and other providers, and is the Cass Business School Professor of Pensions Law and Economics, City, University of London. He acts for a number of governments and govern- ment agencies and has been an adviser to the House of Commons Select Committee on Work and Pensions. © in this web service Cambridge University Press www.cambridge.org -
Notes on Finance Bill Resolutions 3Rd March 2021 1
Notes on Finance Bill resolutions 3rd March 2021 1. Income tax (charge) Provides for income tax to be charged for the 2021-22 tax year. 2. Income tax (main rates) Provides for the main rates of income tax for the 2021-22 tax year. 3. Income tax (default and savings rates) Provides for the default and savings rates of income tax for the 2021-22 tax year. 4. Income tax (starting rate limit for savings) Provides for the starting rate limit for savings for the 2021-22 tax year to remain at £5,000. 5. Basic rate limit and personal allowance (future years) Authorises the Finance Bill to make provision (notwithstanding anything to the contrary in the practice of the House relating to matters that may be included in Finance Bills) taking effect in a future year for each of the following amounts to remain at the amount specified for the tax year 2021-22 — (a) the amount specified in section 10(5) of the Income Tax Act 2007 (basic rate limit), and (b) the amount specified in section 35(1) of that Act (personal allowance). 6. Corporation tax (charge and main rate for financial years 2022 and 2023) Authorises the Finance Bill to contain provision (notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills) for the charging of corporation tax, and for setting the main rate of corporation tax, for the financial years 2022 and 2023. 7. Corporation tax (small companies rate) Authorises the Finance Bill to make provision (notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills) taking effect in a future year — (a) charging corporation tax at a rate lower than the main rate on profits not exceeding a specified amount, (b) reducing the amount of corporation tax chargeable in cases where profits exceed that amount but do not exceed a higher specified amount, and (c) amending Chapter 3A of Part 8 of the Corporation Tax Act 2010 (corporation tax rates on ring fence profits). -
The Tax Implications of Scottish Independence Or Further Devolution
THE TAX IMPLICATIONS OF SCOttISH INDEPENDENCE OR FURTHER DEVOLUTION Jane Frecknall-Hughes Simon James Rosemarie McIlwhan THE TAX IMPLICATIONS OF SCOTTISH INDEPENDENCE OR FURTHER DEVOLUTION by Jane Frecknall-Hughes Simon James Rosemarie McIlwhan Published by CA House 21 Haymarket Yards Edinburgh EH12 5BH First published 2014 © 2014 ISBN 978-1-909883-06-2 EAN 9781909883062 This report is published for the Research Committee of ICAS. The views expressed in this report are those of the authors and do not necessarily represent the views of the Council of ICAS or the Research Committee. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the authors or publisher. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopy, recording or otherwise, without prior permission of the publisher. Printed and bound in Great Britain by TJ International CONTENTS Foreword ............................................................................................................................ 1 Acknowledgements .......................................................................................................... 3 Executive summary .......................................................................................................... 5 1. Introduction ................................................................................................................... -
Pensions Act 1995 (C
(SD501/97, Schedules 1 & 2) Pensions Act 1995 (c. 26) Contents The Pensions Act 1995 (Application) Order 1997 (SD501/97) was made 23 September 1997 and approved by Tynwald 22 October 1997. Article 2(1) provides that in that Order “the applied legislation” means the provisions of the Pensions Act 19951 specified in Article 3(1) and (2). Article 3(1) provides that the following provisions of the Pensions Act 1995, as modified and shown as Schedule 1 to the Order, shall apply to the Island as part of the law of the Island - (a) Part II (state pensions), including Schedule 4; (b) Part III (certification of pension schemes etc.), including Schedule 5, but excluding section 150; (c) in Part IV (miscellaneous and general), sections 155 to 160, 162 to 164, 171 to 173, 176, 177, 180 and 181, including Schedules 6 and 7. Article 3(2) provides that the following provisions of the Pensions Act 1995, as modified and shown as Schedule 2 to the Order, shall apply to the Island as part of the law of the Island - (a) in Part I (occupational pensions), sections 40, 47, 49, 51 to 55, 73, 90 and 117 to 119 and 121 to 125; (b) in Part IV (miscellaneous and general), sections 174 and 175, for the purposes only of the application to the Island of the provisions specified in article 3(1) and of any subordinate legislation made under any of those provisions and applied to the Island. Article 1(2) provides that each provision of the applied legislation, as modified, shall come into force or be deemed to have come into force as the case may be, on the same day as that provision came into force in Great Britain2. -
The Supreme Court; Annual Report and Accounts 2013–2014 HC 36
The Supreme Court Annual Report and Accounts 2015–2016 The Supreme Court Annual Report and Accounts 2015–2016 Annual Report presented to Parliament pursuant to Section 54(1) of the Constitutional Reform Act 2005. Accounts presented to the House of Commons pursuant to Section 6(4) of the Government Resources and Accounts Act 2000. Accounts presented to the House of Lords by Command of Her Majesty. Ordered by the House of Commons to be printed on 4 July 2016. HC 32 © Crown Copyright 2016 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@ nationalarchives.gsi.gov.uk. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/government/publications Any enquiries regarding this publication should be sent to us at: [email protected] You can download this publication from www.supremecourt.uk Print ISBN 9781474132770 Web ISBN 9781474132787 ID 11051611 06/16 Printed on paper containing 75% recycled fibre content minimum Printed in the UK by the Williams Lea Group on behalf of the Controller of Her Majesty’s Stationery Office Front cover image © Kevin Leighton The Supreme Court Annual Report and Accounts 2015–2016 4 contents one two three four FOREWORD AND OVERVIEW: OBJECTIVES -
Parliamentary Contributory Pension Fund
Parliamentary Contributory Pension Fund Standard Note: SN/BT/1844 Last updated: 3 March 2010 Author: Djuna Thurley Business and Transport Section The Parliamentary Contributory Pension Fund (PCPF) is a funded final salary scheme, where Members pay a fixed contribution, and the Exchequer is liable for the balance. In January 2008 the SSRB published the Review of Parliamentary Pay, Pensions and Allowances 2007. This recommended that any increase or decrease in pension cost pressures should be shared between the contributors and the Exchequer. It also recommended that the Exchequer contribution to the cost of benefit accrual should be limited to 20 per cent of payroll and that if it was likely to rise above this level, there should be a major review of the Fund. These recommendations were endorsed in principle by the House on 24 January. In June 2008, the Government announced that the Government Actuary’s Department (GAD) had now advised that the cost of accruing benefits was likely to rise above 20 per cent of payroll. This effectively triggered the need for the fundamental review recommended by the SSRB, and this was commissioned by the Prime Minister in February 2009. The GAD valuation of the Fund as at April 2008 assessed the Exchequer share of the cost of accruing benefits as 23.1% of salary. However, because additional contributions were needed to amortise the deficit in the PCPF (£50.9 million), the recommended Exchequer contribution rate from 1 April 2009 was 31.6% of salary, minus the value of any changes in member contributions or benefits introduced as part of a cost sharing or cost capping mechanism. -
Post-Legislative Scrutiny of the Pensions Act 2007
Post-legislative scrutiny of the Pensions Act 2007 Presented to Parliament by the Secretary of State for Work and Pensions by Command of Her Majesty January 2015 Cm 9001 600569 Post Legislative Scrutiny PLS.indd 1 22/01/2015 16:04:28 600569 Post Legislative Scrutiny PLS.indd 2 22/01/2015 16:04:28 Post-legislative scrutiny of the Pensions Act 2007 Presented to Parliament by the Secretary of State for Work and Pensions by Command of Her Majesty January 2015 Cm 9001 600569 Post Legislative Scrutiny PLS.indd 1 22/01/2015 16:04:28 © Crown Copyright 2015 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/ doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected]. gov.uk. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/government/publications/pensions- act-2007-post-legislative-scrutiny Any enquiries regarding this publication should be sent to us at Email: [email protected] Telephone: 020 749 7139 Print ISBN 9781474113212 Web ISBN 9781474113229 ID 08121404 01/15 Printed on paper containing 75% recycled fibre content minimum Printed in the UK by the Williams Lea Group on behalf of the Controller of Her Majesty’s Stationery Office 600569 Post Legislative Scrutiny PLS.indd 2 22/01/2015 16:04:28 Post-legislative scrutiny of the Pensions Act 2007 3 Contents. -
Pensions Act 2008
Pensions Act 2008 CHAPTER 30 CONTENTS PART 1 PENSION SCHEME MEMBERSHIP FOR JOBHOLDERS CHAPTER 1 EMPLOYERS’ DUTIES Jobholders 1 Jobholders Employers’ duties 2 Continuity of scheme membership 3Automatic enrolment 4 Postponement of automatic enrolment 5 Automatic re-enrolment 6 Timing of automatic re-enrolment 7 Jobholder’s right to opt in 8 Jobholder’s right to opt out Duty in relation to workers without qualifying earnings 9 Workers without qualifying earnings Supplementary provision about the duties 10 Information to be given to workers 11 Information to be given to the Pensions Regulator 12 Introduction of employers’ duties ii Pensions Act 2008 (c. 30) Qualifying earnings 13 Qualifying earnings 14 Review of qualifying earnings band 15 Pay reference period Qualifying schemes and automatic enrolment schemes 16 Qualifying schemes 17 Automatic enrolment schemes 18 Occupational pension schemes 19 Personal pension schemes Quality requirements 20 Quality requirement: UK money purchase schemes 21 Quality requirement: UK defined benefits schemes 22 Test scheme standard 23 Test scheme 24 Quality requirement: UK hybrid schemes 25 Quality requirement: non-UK occupational pension schemes 26 Quality requirement: UK personal pension schemes 27 Quality requirement: other personal pension schemes 28 Sections 20, 24 and 26: certification that quality requirement is satisfied Transitional 29 Transitional periods for money purchase and personal pension schemes 30 Transitional period for defined benefits and hybrid schemes Miscellaneous 31 Effect of freezing order or assessment period 32 Power of trustees to modify by resolution 33 Deduction of contributions CHAPTER 2 COMPLIANCE Effect of failure to comply 34 Effect of failure to comply Compliance notices and unpaid contributions notices 35 Compliance notices 36 Third party compliance notices 37 Unpaid contributions notices 38 Calculation and payment of contributions 39 Meaning of “relevant contributions” Penalty notices 40 Fixed penalty notices Pensions Act 2008 (c. -
Draft Legislation: the Registered Pension Scheme (Provision Of
STATUTORY INSTRUMENT S 2016 No. INCOME TAX The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2016 Made - - - - *** Laid before the House of Commons *** Coming into force - - *** The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 251 of the Finance Act 2004(a) and now exercisable by them(b). Citation and commencement 1. These Regulations may be cited as the Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2016 and come into force on 6th April 2016. Amendment of the Registered Pension Schemes (Provision of Information) Regulations 2006 2. The Registered Pension Schemes (Provision of Information) Regulations 2006(c) are amended as follows. 3. In regulation 2(1) (interpretation) after the definition of “individual protection 2014”(d) insert— ““pensionable earnings” means the member’s salary, wages or fee in respect of the employment to which the public service pension scheme(e) or occupational pension scheme(f) relates;”. 4. In the table appended to regulation 3(1) (provision of information by scheme administrator to the Commissioners) in the second column of entry 22 (annual allowance)(g) after “was exceeded” insert— (a) 2004 c. 12; section 251(4) was amended by paragraph 47 of Schedule 10 to the Finance Act 2005 (c. 7) and paragraph 93 of Schedule 1 to the Taxation of Pensions Act 2014 (c. 30), section 251(5)(aa) was inserted by section 49 of the Finance Act 2010 (c. 13) and section 251(6) was amended by paragraph 93 of Schedule 1 to the Taxation of Pensions Act 2014. -
Pensions Act 2008 (C.30) Which Received Royal Assent on 26 November 2008
These Notes refer to the Pensions Act 2008 (c.30) which received Royal Assent on 26 November 2008 PENSIONS ACT —————————— EXPLANATORY NOTES INTRODUCTION 1. These explanatory notes relate to the Pensions Act which received Royal Assent on 26 November 2008. They have been prepared by the Department for Work and Pensions in order to assist the reader in understanding the Act. They do not form part of the Act and have not been endorsed by Parliament. 2. The notes need to be read in conjunction with the Act. They are not, and are not meant to be, a comprehensive description of the Act. So where a section or part of a section does not seem to require any explanation or comment, none is given. BACKGROUND 3. The Pensions Commission’s 2005 report A New Pension Settlement for the Twenty- First Century contained a series of recommendations regarding the UK pensions system. This Report formed the basis for the Government’s White Paper Security in Retirement: towards a new pensions system, published in May 2006 and the second White Paper, Personal accounts: a new way to save, published in December 2006. 4. The Pensions Act 2007 made provision for the first part of the reform of the UK pensions system. 5. The second White Paper contained further proposals, with an emphasis on private saving, and formed the basis for measures contained in this Act. 6. For ease of reference, please note the following abbreviations for legislation are used in these notes: x FA 2004 – Finance Act 2004 (c. 12) x MCA 1973 – Matrimonial Causes Act 1973 (c.