PSI5.1.32 - Contributions by Employers: General - Contributions in Specie - Transfer of Property
(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)
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000)
- (This text has been withheld because of exemptions in the Freedom of Information Act 2000)
- (This text has been withheld because of exemptions in the Freedom of Information Act 2000)
Once the property is owned by the scheme it will not be acceptable for the employer to occupy it rent-free or at less than a commercial rent. If the scheme is not already self- administered it will become so and should provide an actuarial valuation report immediately following the transaction. The scheme rules will also require amendment to include provision for regular actuarial reviews and where the scheme becomes a small self-administered scheme (SSAS), to comply with all statutory and discretionary requirements for such schemes (see PN Part 20).
