Pensions Tax Simplification Newsletter No 20
6 October 2006
Contents
1. Introduction
Welcome to the twentieth edition of the Newsletter.
This special edition of the newsletter contains a step by step guide to helping you to start using Pension Schemes Online if you haven’t already done so, and filing the Accounting for Tax (AFT) return online.
During the first quarter ending 30th June 2006, APSS took a flexible approach to the validation of the information on any paper AFT’s that were not completed in full correctly. In future, the validation of paper AFT’s will follow the same process as for AFT’s done online. For the first quarter only, we did not apply the same process in recognition of the fact that this was a new process for customers.
Please pass this Newsletter on to anyone else in your organisation who you think may find it useful, and in particular those who are responsible for compiling and submitting the AFT return.
2. The Accounting for Tax (AFT) return and Online Filing
The Accounting for Tax (AFT) Return;
- is a quarterly return of income tax to HMRC
- is the responsibility of the Scheme Administrator
- applies to all registered pension schemes
- the return and any tax is due 45 days after the end of each quarter
- nil returns are not required
Using the online service is;
1. quicker, and more efficient and more reliable than using paper.
2. filing online also gives you a built in online validation of data.
3. gives you an immediate charge reference
4. allows you to make payment immediately
To help customers we have brought together the information previously provided in Newsletters no’s 15-18 about filing the AFT return, along with further help based on feedback that we have received. In response to that feedback and so users have it in good time for the end of the current quarter we have produced a guide with a number of sections containing useful information in question and answer format that will help you through the Accounting for Tax return process as well as getting yourself started online and online filing.
The attached link will take you to this new guide.
Guide to using Pension Schemes Online and the Accounting for Tax Return.
3. Contact Us
If you have any questions about anything to do with new tax rules and you can’t find the answer in the Registered Pension Schemes Manual, please contact APSS by e-mail or phone our helpline number 0115 974 1600 (9.00 to 17.00 Monday to Friday) or you can write to us at
Audit & Pension Schemes Services (APSS)
Yorke House
Castle Meadow Road
Nottingham
NG2 1BG
