RACS Provider Information

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• Annuitants Question and Answers

From 6 April 2007, all retirement annuities, apart from Purchased Life Annuities, are taxed under Pay As You Earn (PAYE).

In the run up to that date, HMRC worked closely with over 70 annuity providers to enable 1.2 million new PAYE tax records for annuitants to be set up and tax code numbers issued. By working together, we successfully completed the transition on time.

For more background information, see our Provider Newsletters.

Any enquiries about the operation of PAYE on retirement annuities must now be made to the Provider’s own tax office, or to the Employer Helpline.