Legislation would be put in place to provide HMRC with new information powers and penalties for reviewing applications for pension scheme registration effective from 20 March 2014.

This measure, announced at Budget 2014, will enable HMRC to send information notices to ask for documents and other information from the pension scheme administrator and other persons to help HMRC decide whether or not to register a pension scheme.

This is designed to clamp down on fraudulent pension scheme administrators which set up companies to advise individuals on how to cash in their pensions early, before you are allowed to under the pension tax rules.

New penalties and appeals in respect of the application for registration and information notices have also been introduced. These include a new penalty if false information is provided in connection with an application for registration.

In addition, there is a new requirement that the pension scheme must be set up and maintained for the main purpose of providing authorised pension benefits.

Where HMRC believes this is not the case, registration may be refused, or an existing pension scheme may be de-registered.

More details are available from HMRC at http://www.hmrc.gov.uk/pensionschemes/ps-reg-powers.htm