RPSM12301310 - Scheme Administrator Pages: Information Requirements and Administration: Information the scheme administrator is required to give to HMRC: The Accounting for Tax Return: Requirement to complete the Accounting for Tax Return

Requirement to complete the Accounting for Tax Return

The scheme administrator is required to make a return of income tax (other than scheme sanction charge) to which he has become liable in any designated 3-month period. The 3-month periods are the quarters ending 31 March, 30 June, 30 September and 31 December.

A return is only required if tax has been charged on the scheme administrator by virtue of his role as scheme administrator in any 3-month period – nil returns are not required.

Insurance company liability

Where one of the following death benefit payments is made by an insurance company under an annuity or insurance contract which is not, in itself, a registered pension scheme but where the payment is treated as made by a registered pension scheme because the contract was acquired with funds held by such a scheme, that insurance company is liable for the special lump sum death benefit charge

• pension protection lump sum death benefit
• annuity protection lump sum death benefit
• unsecured pension fund lump sum death benefit.

In effect, the insurance company becomes the scheme for the purposes of the particular special lump sum death benefits charge liability in question.

The insurance company, is responsible for submitting the accounting for tax return, and is liable to the penalties under s260(1) if it fails to account for the tax, and penalties under s260(6) if an incorrect return is fraudulently or negligently made.

Where registration is withdrawn

Where the registration of a pension scheme has been withdrawn, no person who is the scheme administrator immediately before withdrawal retains all obligations to HMRC in connection with accounting for tax under this provision.