(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
A deed comes into effect on delivery. In practice you can
accept the date appearing on the deed as the date of delivery,
unless there is contrary evidence. For example, the stated date may
be earlier than the date on which the underlying draft was agreed.
In such a case you will need to find out the actual date of
delivery. A retirement benefits scheme set up by a deed does not
exist until the deed takes effect. This applies even when the deed
contains provisions which have retrospective effect. If, therefore,
a deed dated (say) 1 January 1994 purports to establish a scheme
"as from 1 October 1993", the scheme must be treated as having been
established on 1 January 1994 and it cannot be exempt approved from
any earlier date (but see
PSI1.3.22 if it is claimed that an oral
trust existed before that date).
