DWP paper conflicts with Revenue simplification plans

John Lawson, senior technical manager at Standard Life, says point no. 217 in the Bill - entitled 'Power to prescribe conditions by reference to Inland Revenue approval' - refers to a tax approval rule, which will, in fact, become non-existent under the new IR regime. The Bill states: "Regulations about pension schemes made under this Chapter may contain provisions framed by reference to whether or not a scheme (a) is approved under Chapter 1 (retirement benefit schemes) of Part 14 of the Income and Corporation Taxes Act 1988, or is a relevant statutory scheme within the meaning of that...