(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)
[PN 15.2 and 15.4]
If the scheme is split for approval purposes under section
611(3) ICTA 1988, for example because the membership includes
overseas employees (see
PSI15.1.7), the actuarial
report should certify the proportion of the assets relating to the
unapproved part. If it does not, ask the actuary for this figure.
It is important that you tell the scheme district of the percentage
restriction if it differs from the previous valuation: the
inspector can then adjust the restriction on repayments.
