RPSM07300150 - Scheme Administrator Pages: Investments: How should I account to HMRC for tax due?

How should the scheme administrator account to HMRC for tax due?

If a tax charge becomes due the scheme administrator should complete an Accounting for Tax Return. This should be completed in respect of each quarter in which a chargeable event has occurred. A quarter is the 3 month period ending on 31 March, 30 June, 30 September and 31 December. The filing date for the Return and the tax is due 45 days from the end of the quarterly return period.

However, you do not have to complete an Accounting for Tax form in respect of any liability to the scheme sanction charge. An assessment will be raised by HMRC.

Any tax due on other scheme income will be payable through the scheme Self-Assessment return (see RPSM07300140).