(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
Regulation 4 requires the administrator of a small self-administered scheme (SSAS) to submit to the PSO any AVR prepared for the scheme and signed by an actuary, within one year of the effective date of the valuation. Administrators of large self-administered schemes (LSAS) have 2 years from the effective date. The requirement to produce triennial AVRs is not covered in the Regulations but remains one of our discretionary conditions for approval of SSAS so should be a requirement in the scheme rules. We therefore run into an apparently anomalous situation which is resolved by the procedure outlined in PSI23.1.5.
