I would appreciate a bit of advice please as I'm worried I've missed something regarding PAYE and RTI.
We operate a payroll for about 20 pensioners in flexi access drawdown. In the latest HMRC newsletter is directed us to the CWG2 rules and under section 2.2.6 it states that
"If part of the fund is withdrawn and payments are regular...for pay Frequency select "annual".
The implication from this is that irrespective of the actual frequency, we should be using annual - this will affect those taking a regular monthly income and so it seems odd that HMRC would enforce this.
Has anyone else seen this or applied this?