RPSM12301320 - Scheme Administrator Pages: Information Requirements and Administration: Information the scheme administrator is required to give to HMRC: The Accounting for Tax Return: Information needed
Information needed to submit an accounting for tax (AFT) return
The accounting for tax (AFT) return must be submitted electronically using Pension Schemes Online.
Submission by scheme administrator or sub-scheme administrator
Submission by a practitioner
Submission by an insurance company
Information needed to report the short service refund lump sum charge
Information needed to report the lifetime allowance charge
Information needed to report the special lump sum death benefits charge
Information needed to report the serious ill-health lump sum charge
Information needed to report the authorised surplus payments charge
Information needed to report the de-registration charge
Submission by scheme administrator or sub-scheme administrator
Information needed to complete the accounting for tax (AFT) return
- Detail of the tax charges to be reported (see below for further information), and
- The Pension Scheme tax Reference Number (PSTR).
The PSTR will have been allocated to a scheme when it became a registered pension scheme. A PSTR will also have been allocated to schemes approved before 6 April 2006 that automatically became registered pension schemes on that date.
If the scheme was registered on or after 6 April 2006, or a new scheme administrator was added to the scheme using Pension Schemes Online, the PSTR will have been given to the scheme administrator.
Although PSTRs have been given to schemes approved before 6 April 2006, the scheme administrator may not be aware of the PSTR for their scheme. In these circumstances the scheme administrator will need to know
- The pension scheme name, and
- The SF reference number (the old approval reference number) for the scheme.
If the scheme is a retirement annuity contract or a deferred annuity contract made before 6 April 2006 it will not have a SF reference number. The contract or policy number will be needed to file the AFT return.
Submission by a practitioner
In addition to the information needed by the scheme administrator a practitioner will also need to know the
- The Scheme Administrator ID of the scheme administrator who has approved the content of the AFT return, and
- The name and address of the scheme administrator who has approved the content of the AFT return.
Submission by an insurance company
Where an insurance company is submitting an AFT return to report liability to the special lump sum death benefit charge instead
- Detail of the special lump sum death benefits charge to be reported, and
- The contract or policy number of the annuity or policy contract that paid the lump sum death benefit that triggered the tax charge.
Information needed to report the short service refund lump sum charge
The short service refund lump sum charge is due when the scheme pays a short service refund lump sum. The information that needs to be recorded on the AFT return is
- The number of members who received a short service refund lump sum in the quarter,
- The total amount of tax payable at 20%, and
- The total amount of tax payable at 50%.
RPSM09104760 explains how short service refund lump sums are taxed.
Information needed to report the lifetime allowance charge
The lifetime allowance charge is due when a member crystallises benefits of more than the member’s lifetime allowance. RPSM11103000 explains the process of testing benefits against the lifetime allowance. Guidance on what happen when the member’s lifetime allowance is used up starts at RPSM11105000. The information that needs to be recorded on the AFT return is
- The number of members in the quarter who have been liable to the lifetime allowance charge, and
- For each member liable to the lifetime allowance charge
-
- Their name,
- Their National Insurance number,
- The date of the benefit crystallisation event giving rise to the lifetime allowance charge
- The amount of tax due at 25%, and
- The amount of tax due at 55%.
See RPSM12301295 for what to do if the individual does not give the scheme administrator their National Insurance number.
Information needed to report the special lump sum death benefits charge
The special lump sum death benefits charge is due when a scheme pays
- a pension protection lump sum death benefit,
- an annuity protection lump sum death benefit,
- a drawdown pension fund lump sum death benefit (before 6 April 2011 called an unsecured pension fund lump sum death benefit),
- a defined benefits lump sum death benefit where the member has reached the age of 75 at the date of their death and the death occurred on or after 6 April 2011, or
- an uncrystallised funds lump sum death benefit where the member has reached the age of 75 at the date of their death and the death occurred on or after 6 April 2011.
The information that needs to be recorded on the AFT return is
- The number of deceased members for which payment of the lump sum death benefits listed above were made in the quarter, and
- The amount of tax due entered in whole pounds. Until the amended online AFT return is available in April 2012, where more than one lump sum death benefit has been paid the amount of tax due should be shown as a single amount whether the rate of tax applying to each lump sum is 35% or 55%.
RPSM04101110 gives more information on the special lump sum death benefits charge.
Information needed to report the serious ill-health lump sum charge
The serious ill-health lump sum charge is due when after 6 April 2011 a scheme pays a serious ill-health lump sum to a member who has reached the age of 75.
The information needed to be recorded on the AFT return is
- The number of members aged 75 or over who were paid a serious ill-health lump sum in the quarter, and
- The amount of tax due entered in whole pounds.
Until the amended online AFT return (which will include a question about the serious ill-health lump sum charge) is available in April 2012, this information should be included as part of the information provided in relation to the question relating to the special lump sum death benefits charge.
RPSM04101125 gives more information on the serious ill-health lump sum charge
Information needed to report the authorised surplus payments charge
The authorised surplus payments charge is due when a scheme makes an authorised surplus payment to a sponsoring employer. The information that needs to be recorded on the AFT return is
- The number of employers who received an authorised surplus payment, and
- For each sponsoring employer who received such a payment
-
- The name of the sponsoring employer
- Their registered address
- If the employer is a company their company registration number
- The date of payment of the authorised surplus payment
- The amount of tax due
- The amount of tax due entered in whole pounds
RPSM04102020 to RPSM04102030 gives more information about authorised surplus payments and how they are taxed.
Information needed to report the de-registration charge
If a scheme has its registration withdrawn the de-registration charge is payable. The information that needs to be recorded on the AFT return is
- The date that the scheme was de-registered, and
- The amount of tax due entered in whole pounds.
Guidance from RPSM04105000 explains how a scheme can be de-registered and what the tax consequences are.
| Glossary (RPSM20000000) |
