(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)
The operator of the CIF should be no more than an agent for
the participating schemes if their entitlement to investment income
relief is to be retained. We liaise on this point with Financial
Intermediaries and Claims Office (FICO) (Scotland) who is also
responsible for setting up the joint repayment arrangements if all
is satisfactory. The existence of a CIF means that all
participating schemes must be treated as self- administered. Check
the documentation of each scheme to make sure that it is properly
documented to permit self-administration, including the submission
of regular actuarial reports, and see Part 22 for the procedures to
follow.
