RPSM04301030 - Scheme Administrator Pages: Taxation: Tax and penalties payable by the administrator: How does the scheme administrator account for tax liabilities?

How does the scheme administrator account for tax liabilities?

RPSM04300020 describes procedures for accounting for the tax charged under any of the following provisions

• Section 205: short service refund lump sum
• Section 206: special lump sum death benefits charge
• Section 207: authorised surplus payments charge
• Section 217: lifetime allowance charge (joint and several liability with the member)
• Section 242: de-registration charge

Amounts for which the scheme administrator is jointly and severally liable in respect of the lifetime allowance charge must be accounted for in full by the scheme administrator under these procedures.