(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)
[PN18.10-11]
As a solution to this problem the Board has approved an
indemnity procedure for use in suitable cases. This enables
provisional repayments of tax to be made to schemes working on
interim documents. It involves the scheme trustees and the employer
executing a “deed of indemnity”. The Board’s
Solicitor has prepared a “model deed” which safeguards
the Revenue’s interest. Copies of the “model
deed” are held by Technical Support Section on SF70/175A.
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000)
We do not offer the indemnity procedure, it is left to the
scheme trustees or their agents to request it. If a request is
received refer the case to the Section Manager to decide whether
the indemnity procedure is appropriate. Each case should be
considered on its facts but the indemnity procedure should not be
accepted if the scheme is close to being formally approved.
