The registered pension scheme administrators must submit certain information electronically to the UK HM Revenue Customs, from October 16, 2007.
Previously, this information could also be submitted on paper. The pension scheme administrators will have to file documents like 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 the HM Revenue Customs’ (HMRC) 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. Pension scheme administrators and practitioners, who haven’t done so, should register as soon as possible.
The pension scheme administrators can register and apply for practitioner ID at the HMRC’s online registration page. Early registration will ensure that administrators are ready to use Pension Schemes Online in advance of any filing deadlines.
Julie Elsey, the HMRC’s head of pension schemes services, said: 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.