Pension Schemes Must E-File This Week

by Jason Gorringe, Tax-News.com, London

18 October 2007

Registered pension schemes must submit certain information electronically to HMRC this week, it has been announced by the UK tax authority.

Previously, this information could also be submitted on paper. Now, however, pension scheme administrators will have to file the following electronically: applications to register a pension scheme, registered Pension Scheme Returns, accounting for Tax Returns, scheme Administrator's Declarations, event reports, notifications of the winding-up of a registered pension scheme, and notifications of a scheme administrator terminating their appointment.

To submit information online, scheme administrators (or practitioners acting on their behalf) must register with HMRC's Pension Schemes Online service. It can take up to seven working days to activate a new account - as some information has to be sent by post - so pension scheme administrators and practitioners who haven't done so should register as soon as possible, HMRC is cautioning. Early registration will ensure that administrators are ready to use Pension Schemes Online in advance of any filing deadlines.

HMRC's Julie Elsey, Head of Pension Schemes Services, concluded: "If you're a pension scheme administrator, and you haven't registered to file online, you should do so as soon as possible. Otherwise, you may be storing up problems for the future."

Recommended