Pension scheme e-filing - one month to go
With mandatory e-filing for registered pension schemes only a month away, HMRC is urging scheme administrators to make sure they're ready for the big day.From 16 October 2007, pension scheme administrators will have to submit the following information 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 HMRC is urging those who haven't to sign up now.
Registering is easy - simply visit HMRC's online registration page at online.hmrc.gov.uk/registration and select 'Pensions'. You can then apply for either a Scheme Administrator or a Practitioner ID (if you don't already have one).
Once you've received your ID, you can choose to send information using your own software, or the free software provided by HMRC.
HMRC's Julie Elsey, Head of Pension Schemes Services, said: "The 16th of October isn't far way, so if you're a pension scheme administrator, make sure you're ready for the changes. By acting now, you can help avoid any problems in the future."