E7.250 Pension schemes—penalties

Personal and employment tax
Commentary

For the latest New Developments, see ND.2718.

In addition to the various tax charges imposed in respect of registered pension schemes discussed in E7.247, HMRC can impose penalties where the pension scheme administrator of the member do not comply with their responsibilities.

Pension scheme administrators

Penalties that can be imposed on the scheme administrator for:

SituationPenalty
Failure to make a pension scheme return (excluding an Accounting for Tax return)1The initial penalty is £100, with daily penalties of up to £60 per day if the failure continues after the initial penalty has been imposed.
Submitting an inaccurate pension scheme return or providing inaccurate accounts or other documents with the return2A penalty of up to £3,000, but this is only due if the pension scheme administrator has acted fraudulently or negligently.
Failure to file an Accounting for Tax return3The initial penalty is £100, with daily penalties of up to £60 per day if the failure continues after three months.
Tax geared penalties apply if the return is still not submitted

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Web page updated on 17 Mar 2025 17:31

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