Having Tax coding problems on your pension

Some people are having tax problems after the handover to Barnett Waddingham. This is not BW’s fault but a problem of communication between HMRC offices. I’m afraid you need to negotiate your tax situation directly with the new HMRC office reference 120/XB84877 the previous office was 428/C107A. Please check your tax code. Some have had their tax doubled and others have lost overseas country double taxation allowances. The Tax office phone number is 03002003300. Barnett Waddingham have uploaded the final P60’s information sent out by AON in previous financial years, in the ‘your documents’ section.

Pension Administrator change over 1st October 2018

From the 1st October you should no longer contact AON re pension administration issues. Please contact Barnett Waddingham, by Phone : +443442643587 or by email : chevron@barnett-waddingham.co.uk  or post : Chevron UK Pension Plan, Barnett Waddingham, St. James House, St James Square, CHELTENHAM, Gloucester, GL50 3PR. Please register with the new pension website., remove old versions of the website history from your browser. then reuse chevronukpension.co.uk.and you should be sent to the new Barnett Waddingham site and sign in. You need your NHI number. N.B. to activate online communications you can trigger this from the BW website, if you go into the tab ‘view documents’ you will see at the top of the page the heading ‘your documents’ if you click the link below that is named ‘communication preferences’ you can select your choice within this area and it will be effective straight away.

Chevron Heritage Nominee – U.S. Withholding Tax – Form W-8BEN Expiry/Renewal

Chevron Heritage Nominee – U.S. Withholding Tax – Form W-8BEN Expiry/Renewal A recent audit has identified that some Chevron Heritage Nominee share plan participants US tax declaration Form W-8BEN (“Form”) expired on 31st December 2017 and as a result, Link Asset Services (“Link”) does not hold a valid Form for them. The Form is a U.S. legal tax declaration. This means incorrect U.S. Withholding Tax (“Tax”) deductions were applied to the two dividends that have been paid to Chevron Heritage Nominee Participants since 1st January 2018. The first dividend, at a rate determined by the expired Form, and the second, at the default tax rate of 30%, to ensure compliance with US Tax Regulations. The participants identified in the Chevron Heritage Nominee share plan  were sent an affidavit at the bottom of a new W-8BEN Form on 23rd July, which will enable Link to correct the Tax deductions retrospectively for the last two dividends. Please Note: ·         The Form received in the post now requires two signatures in the Certification section. ·         Link will not be able to recover the excess Tax deductions if either the Form or affidavit is returned without having been signed (where it states ‘Important’) by 28th September. If Link receives the incomplete Form, instead a further deduction will be made from the next dividend to recover the other 15% not taxed at the first dividend and Chevron Heritage Nominee share plan participants will remain on the higher 30% default tax rate. Further useful information: ·         The Form enables Link to reduce the default Tax rate of 30% paid on dividends where agreed by relevant ‘double taxation treaties’ between the U.S. and your country of tax residency. For example, a UK Tax resident will only pay 15% Tax, ·         Forms received after the above date will be applicable from the next relevant dividend, however Link will not be able to correct the 2018 tax deduction at 30%. ·         To benefit from the Tax rate adjustment in the upcoming dividend, Link requires receipt of the signed Form and affidavit before the next record date in August. If Link receives these documents after the record date and before the final deadline, the Tax rate will default to 30% for the next dividend. ·         Link will accept Forms sent via post and scanned in via email to the postal and email addresses detailed on the Form.   Please note that Link Asset Services is not authorised to provide taxation advice. Some further information can be obtained from this web site:  http://www.hmrc.gov.uk/taxon/foreign.htm.   For U.S. Tax Residents only Any participants are, or have ever been, a Tax resident of the U.S. you should have a U.S. Social Security Number (“SSN”) or Individual Tax Identification Number (“ITIN”) – the format is usually “123-45-6789”. If you have received this letter it means that you have not currently provided us with a Form W-9 (“Request for Taxpayer Identification Number and Certification”) and might need to. If so please refer to the Guidance Notes.   Finally, should you have any queries then please do not hesitate to contact Link on: Tel: 0371 664 1835 Email: chevron@linkgroup.co.uk

Your help required

Can you please help the Treasurer Peter Young by emailing to peterdyoung@hotmail.com if you know of any of these missing members: We are unable to trace : Mr R Cameron Aitken,  Mr Chris C. Bryan, Mr Basil Coalston, Mr Brian B. Cockram, Mr Brian Giddings, Mr Andy Gray, Mr D Greening,Mr Laurence Harrision,  Mr & Mrs R Jewers, Mr K Kemp, Mrs MECS,  TM Thomas,  Mrs E W Vaughan, JL Williamson, Mr Reg. Wilson, MIGR with an account no. 10181994 paid us on the 14th June 18&19, can you please help with more information: A. Lovell paid us for the first time on the 1st December 2014, and Mr John Herbert paid us for the first time on the 1st June 2016, we have no details about them. Also Earthport Plc paid us £5 on the 14 March 2016 does anyone know who the member could be please. Go to Association News.Click Here

Major Changes to CAPITA

Sale of Capita Asset Services to Link Group  Capita PLC sold Capita Asset Services, the division which services our nominee plans, to Link Group on Monday 6th November.  Link Group are an Australian listed company and the acquisition of CAS is their only operations in the UK. No service disruption is anticipated and all staff who work on the share plans remain unchanged. The Link Group will communicate to the nominee holders shortly. Online portal  Some pensioners may notice changes in the portal.  There have been some developments to modernise it so that it is accessible on tablets for example – Link will communicate these changes at the same time as they inform their nominee holders of the change in company New data requirements  With effect from 3rd January 2018, Link will need to collect nationality and a national client identifier from nominee holders who wish to sell or transfer their shares – there will be guidance on what the identifier is at point of sale, but as an example a British national will need to give their National Insurance number.  This is to satisfy new regulatory reporting requirements under something called MIFID II regulations and isn’t a scam to get people to part with their data! For your information The CEL Nominee Service was established in August 2013 as a transfer option following the vesting of the Chevron United Kingdom Limited Share Incentive Plan (CHUKL SIP) and when the heritage company Employee Stock Ownership Plans (ESOPs) wound up in 2008. These plans are administered by Link Market Services IRG Trustees Limited (Link) and shares are held by Link (as trustee) in an uncertificated form on your behalf but you remain the beneficial owner of the shares. This means that the shares are treated as if they belong to you. You will continue to receive voting rights on those shares for the Chevron AGM, and you will continue to receive dividends. You can also view your personal shareholding at www.mychevronshares.com, or contact the Plan administrators, Link Asset Services, on 0371 664 1835 or email chevron@linkgroup.co.uk.

Chevron Retiree Lunches

The CUKPA has a plan to try to assist organisers in running unsubsidised  lunches. This will replace the CUK Retiree Welfare Programme of lunches which were subsidised. The CUKRWP is no longer in existance. Please check the Lunches page , goto Lunches