RPSM11103410 - Technical Pages: Lifetime allowance: The process for testing: In member's lifetime: Information from scheme: Event reports

Event reports the scheme administrator must make to HMRC after the BCE

The scheme administrator is required to report certain events to HMRC.

If the member is relying on an entitlement to an enhanced lifetime allowance (or either enhanced protection or fixed protection) in order to reduce or eliminate a liability to a lifetime allowance charge at a BCE the scheme administrator must report this to HMRC - see RPSM12301080.

RPSM11103650 explains when the scheme administrator needs to report the payment of a relevant lump sum death benefit caught through BCE 7 to HMRC.

These event reports must be made on a prescribed form APSS 300 together with the appropriate supplementary page and submitted no later than 31 January following the end of the tax year the reportable event took place in. If the scheme is winding-up then different time limits apply - see RPSM12301610.

Failure to make the report in time will result in penalties - see RPSM04301070.

In addition some of the payments actually triggering the BCE may also be reportable in the same way to HMRC, and to the same deadline - see RPSM12301010 onwards.