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| Pension schemes: Early online registration recommended |
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HMRC are reminding pension scheme administrators that Pension Scheme Returns and Event Reports for 2006/07 must be filed online by 31 January 2008. Since 16 October 2007, it has been mandatory to file the following reports electronically:
Paper versions submitted after 15 October 2007 will be returned and deemed as not received. This could result in a penalty if an online return is not subsequently filed, or filed late. The 2006/07 Event Report has a filing deadline of 31 January 2008, as does the Pension Scheme Return for 2006/07 (if a notice to file one was issued on or before 31 October 2007). The Accounting for Tax Return for Quarter 3 (1 October to 31 December 2007) has a filing deadline of 14 February 2008. The Self Assessment Return for Pension Schemes (SA970) - which also has a 31 January filing deadline - is not covered by the new rules, and can only be filed on paper. Pension scheme administrators, or those acting on behalf of pension schemes, who need to register for HMRC's Pension Schemes Online service, should do so as soon as possible. It can take up to seven working days to activate a new account as some information has to be sent by post. In addition, January is a particularly busy month for HMRC online services, so early registration and filing is recommended. Link
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Wednesday, 12 December 2007 | 1107 Hits |
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