RPSM07400140 - Employer Pages: Investments: What information does the employer need to provide to HMRC?

What information does the employer need to provide to HMRC?

Where the scheme administrator advises the employer that an unauthorised payment has been made from the scheme to the employer, regulation 5 of the Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567 - requires that the employer must notify HMRC by no later than 31 January following the end of the tax year in which the payment is made.

The employer must provide details of:

• the scheme that has made the payment
• the nature of the payment
• the amount of the payment and
• the date on which the payment was made.

The notification should be made to the office that deals with the corporation tax affairs of the company.

• Interest is payable on any tax paid late. Surcharge may also be due.
• There are penalties for fraudulently or negligently making an incorrect return.