EIM15200 - Non-approved retirement benefits schemes: reporting responsibilities

Section 605(3) ICTA 1988

Non-approved retirement benefits schemes have their own reporting requirements. Employers are required to deliver particulars of a non-approved scheme within three months of it coming into operation. This means the earlier of:

• when the employer makes a contribution to provide benefits for an employee, or
• when any benefits are paid out.

When an employer reports the existence of a non-approved scheme the office should open a control file in the form of a sub-folder in the employer's 46 file and use it to house all relevant correspondence. The employer should be asked for full details of the scheme including a copy of the rules and any trust deed.

Although not a statutory requirement, most employers include contributions on forms P11D. At the end of each year of assessment, the employer should be asked to supply a full list of all contributions made to the scheme in that year, specifying the amount paid in respect of each employee in the scheme. This list will assist in checking that all charges under Section 386 ITEPA 2003 have been assessed (see EIM15040).

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)..
If the scheme has been set up under trust, see TSM5200 onwards.

For the PAYE position, see EIM15210.

For guidance on the reporting responsibilities in respect of employer-financed retirement benefits schemes see EIM15201