BeeHive > BeeLines > HMRC Pensions Tax Simplification Newsletter #30
HMRC Pensions Tax Simplification Newsletter #30
It never rains, but it pours doesn’t it? Her Majesty’s Revenue & Customs has just published their latest Newsletter explaining more of the intricate detail of simplification; issue number 30 – and we’re only a mere eighteen months into the simple A-Day regime.
This time the big story is still the move to the so-called E-Mandation where scheme administrators will be required to file certain information to HMRC electronically from 16th October 2007 (or to put it another way, today).
From today certain paper forms have become obsolete and it will only be possible to file them electronically in future. Any old forms that are used and sent in after today will be treated as though they were never received; so there’s no way round it! There will be exceptions made for post that gets held up in the current postal dispute (which is ironically about pensions, but that’s another story I guess) and details of all that are included in the newsletter.
As well as detailing which forms are now obsolete Newsletter 30 also lists some helpful details of forthcoming filing deadlines. It also picks up on the “Who is our scheme administrator when he’s at home then?” question that I suppose has come up a fair bit lately. Essentially, any scheme that was an ‘approved scheme’ before A-Day and didn’t opt-out of the new regime automatically became a ‘registered pension scheme’ on that day. The person who was the administrator of a scheme on 5th April 2006 automatically got the job of Scheme Administrator under the new regime and is in the frame for doing all the E-Mandation stuff (unless they've appointed someone to do the job for them).
It’s all explained in the Newsletter along with some useful tips on what to do with occupational schemes that wind up. You can get a copy of Newsletter #30 by clicking on the link if you like. It’s a free country.
16 October 2007
Source: HMRC Pensions Tax Simplification Newsletter 30.
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