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HM Revenue & Customs have moved to a risk based process for pension scheme registrations and we have been in dialogue with HM Revenue & Customs since the new risk based process was effected on 21 October 2013.
The purpose was to put in place an agreed process to ensure that the tax integrity of the scheme is maintained for the life of the scheme.
Schemes with this firm are being registered on the new basis,efficiently and with spot audit checks considered appropriate.
The new style tax registration letter confirms that registrations and declarations made satisfy HMRC requirements, which avoids the requirement for pension transferring companies to seek confirmation from HMRC that the receiving scheme is registered with their Office and rely on their own internal due diligence process.