Yes, that’s right. The practicalities of how this will be implemented will be considered over the next few months, alongside other developments to the interface, following which this will be communicated to Employers and Shared Service Providers.
Annual Allowance 2017 FAQ
Is this expected to be part of the regular interface solution beyond 2017?
Do the figures provided need to be just for the period 1 – 5 April 2017 or do they need to be cumulative figures for the whole financial year, i.e. include the month 12 figures up to March 2017?
The additional data that is to be provided is for the first 5 days of April only.
Should I remove these five days of earnings from the April interface I submit?
No – the April 2017 interface should be submitted as normal.
Do we need to provide details for the period 1 April – 5 April 2016 to counter the five days being added at the end of the year?
We don’t need this data as HMRC agreed that we should use data as at 1 April 2016 as a proxy for the tax year end for 2016. As a result, that will also be the starting point for the 2016/17 tax year.
What should happen with members who transition to alpha on 1 April 2017?
They should be submitted on the manual interface with five days of earnings as though they were an alpha member. We will not be loading the data until the April interface has been transacted, at which point the member should have been transitioned into alpha.
What if a member is paying into a PCSPS Added Pension/Added Years contract, but is in alpha?
The member’s data should be submitted on a single line as though they are an alpha member. The Added Pension fields, which are specific for PCSPS, should then be populated with the requisite added pension/added years contributions.
What if I require more support?
In the first instance, please email AA2017Earnings@mycsp.co.uk and a member of the Project Team will be in touch as soon as possible.
Where can I find more information around Annual Allowances for 2015/2016?
Please see the below link for further information