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Revenue ARRs hit as Eric idles

Revenue & Customs is overdue in paying several hundred millions of pounds in age-rel-ated rebates to pension prov-iders after being hit by comp-uter problems. The Revenue has warned the Society of Pension Consultants that the problem will not be solved overnight and only expects to have paid 60-70 per cent of overall ARRs due by November 1. Previous Revenue statements put this figure nearer 80 per cent.

SPC company secretary John Mortimer says that while it hopes the problems are solved quickly, the overriding pri- ority is to ensure that the Revenue’s systems are integrated well so as to produce correct payments.

The SPC is set to meet the Revenue in mid-September for an update on its progress.

Scottish Life group communications director Alasdair Buchanan says: “We certainly know that the payment of rebates has been dramatically slower over the year to date and it sounds as if this is set to continue for some time.”

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