Extension to temporary easements in connection with Covid-19
In its Pension schemes newsletter 124, HMRC announced that a number of easements announced in previous newsletters in connection with Covid-19 would be extended until 31 March 2021.
Administrators of schemes without a Pension Scheme Tax Reference asked to contact HMRC
In its Pension schemes newsletter 124, HMRC says that as part of the work it's doing to prepare for migrating schemes to the Managing Pension Schemes service, it is currently looking at pension schemes that were registered before 6 April 2006 where the administrator does not currently have access to the scheme on Pension Schemes Online, so does not have a Pension Scheme Tax Reference. Administrators of such schemes are asked to contact HMRC with details.
Managing pension schemes service newsletter: timescales re future developments
In July HMRC published its latest Managing pension schemes service (MPS) newsletter with an updated timescale due to Covid-19 issues. HMRC is planning to deliver practitioner registration and reporting for practitioners in mid-2021, so that new practitioners can register on the service. Existing practitioners that are registered on the Pension Schemes Online service will also be able to enrol on the Managing pension schemes service. Practitioners registered on the service will be able to create, compile, submit, view and amend the Accounting For Tax return for a scheme and view the financial information for the scheme. Scheme administrators will be able to authorise and de-authorise practitioners through the service.
Pension schemes newsletter 122: reporting excess tax relief
In its Pension schemes newsletter 122, HMRC announced that it is extending the ability for schemes to report excess tax relief through their next interim claim, whether or not an annual claim has been submitted. This will apply for the 2021/22 tax year as well whilst the government considers responses to its pensions tax relief administration call to evidence (covered above).