The following Employment Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The non-registered pension schemes, in respect of which there are reporting requirements to HMRC, covered by this note are:
The relevant legislations are FA 2004, s 251(1)(a), (2)(e)–(f) and SI 2005/3453 (subscription sensitive).
There are two main areas where information must be provided to HMRC, as follows:
By 31 January, following the end of the tax year in which a scheme comes into operation, the following must be sent to HMRC:
The named ‘responsible person’ is in charge of making this report and any subsequent annual reports. The ‘responsible person’ is defined in ITEPA 2003, s 399A.
A scheme ‘comes into operation’ on the first occasion when either of the following takes place:
The particulars required when a scheme starts should be sent to the trust office dealing with the trust through which the scheme
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