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Deadline is set for electronic pension filing

HM Revenue & Customs says pension schemes must file some information electronically from October 16.

The data that is required to be filed electronically includes applications to register a pension scheme, registered pension scheme returns, accounting for tax returns, scheme administrators’ declarations, event reports, notifications of winding-up registered pension schemes and notifications of a scheme administrator’s appointment.

Any paper forms received by HMRC after October 15 will be returned. The requirement to file these returns falls on the scheme administrator. In some cases, this will be the provider and in others the trustees.

Standard Life marketing technical manager Andrew Tully says: “This is a significant change which will affect administrators of pension schemes. It is critical that the Revenue ensures its systems are robust enough to deal with the increased number of users.

“Employers will also want to make sure that their scheme administrator can cope with electronic filing of returns within Revenue timescales.”

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