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Compulsory E-Filing Coming For UK Pension Administrators

by Robert Lee, Tax-News.com, London

06 August 2007


With less than three months to go until electronic filing becomes mandatory for registered pension schemes, HM Revenue and Customs (HMRC) is urging Pension Scheme Administrators to register now for online filing.

Pension Scheme Administrators are responsible for fulfilling certain tax functions, including: registering the pension scheme with HMRC; operating tax relief on contributions under the relief at source system; reporting events relating to the scheme and the Scheme Administrator to HMRC; making returns of information to HMRC; providing information to scheme members, and others, regarding the lifetime allowance, benefits and transfers; and paying certain tax charges.

From 16 October 2007, Pension Scheme Administrators will have to submit the following information electronically to HMRC:

  • 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 a practitioner acting on their behalf, will need to be registered to use HMRC's Pension Schemes Online service.

HMRC's Julie Elsey, Head of Pension Schemes Services, said:

"Thousands of pension schemes are already taking advantage of our online service, so get on board and experience the benefits of e-filing now. That way, you'll be well prepared for 'E-Mandation Day' on 16 October."

A Scheme Administrator can appoint a Practitioner to act on their behalf in relation to some of their duties.

Reports and returns can be filed online, either using HMRC's free software or third party software via HMRC's Pension Schemes Online service.

Accounting for Tax (AFT) Returns submitted for the 2nd quarter (ending 30 September), must be submitted on line if they are not filed by 15 October 2007. The filing deadline for the AFT for the 2nd quarter is 45 days after the end of September, i.e. 14 November 2007.

Pension Scheme Returns for 06/07, must be submitted online, if they are not filed by 15 October 2007. The filing date for the Pension Scheme Return for 06/07 is 31 January 2008.

Event Reports for 06/07 must be submitted online, if they are not filed by 15 October 2007. The filing date for the Event Report for 06/07 is 31 January 2008.

E-mandated information submitted by paper after 15 October 2007 will be returned to the sender, and will be deemed as not received by HMRC.


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