The Registered Pension Scheme Return

Contents

Q. What is a Registered Pension Scheme Return?

A. The Registered Pension Scheme Return is a return required by law from 6 April 2007. The return asks for information about:

  • contributions made under the pension scheme
  • transfers of sums or assets held for the purposes of, or representing accrued rights under, another pension scheme so as to become held for the purposes of, or to represent rights under, the pension scheme
  • income and gains derived from investments or deposits held for the purposes of the pension scheme
  • other receipts of the pension scheme
  • the sums and other assets held for the purposes of the pension scheme
  • the liabilities of the pension scheme
  • transfers of sums or assets held for the purposes of, or representing accrued rights under, the pension scheme so as to become held for the purposes of, or to represent rights under, another pension scheme
  • other expenditure of the pension scheme

The requested information may be restricted to a particular arrangement or arrangements under the pension scheme. This relates mainly to non-occupational schemes. For further information about the Registered Pension Scheme Return refer to the Registered Pension Schemes Manual RPSM12301410.

Q. Who is responsible for the Registered Pension Scheme Return?

A. The Scheme Administrator is required to make the Registered Pension Scheme Return and is responsible for its accuracy and completeness.

Q. Can the Scheme Administrator delegate responsibility for the Registered Pension Scheme Return?

A. No, however, the Scheme Administrator can engage the services of a practitioner to complete and submit the return on their behalf but the Scheme Administrator must approve the content of the return before it is sent to HMRC. This is because any penalties for submitting an incomplete or inaccurate Registered Pension Scheme Return are chargeable on the Scheme Administrator(s).

If the Registered Pension Scheme Return is filed by a practitioner on behalf of a Scheme Administrator the practitioner is required to make a declaration before the submission can be accepted by HMRC. This declaration is made to confirm that the Scheme Administrator named in the submission has approved the content of the return and its submission to HMRC online.

Q. How will I know if I have to file a Registered Pension Scheme Return?

A. HMRC will send the Scheme Administrator a notice to file a Pension Scheme Return. If a Scheme Administrator is registered to use Pension Schemes Online and has opted for electronic communication only, they will not receive a paper notice. Providing they have given an email address, they will receive an email message telling them there is a message on their electronic notice board that they need to read. A message will appear on the Scheme Administrator’s notice board within the system. Those Scheme Administrators who use Pension Schemes Online but have chosen to receive paper and electronic notices will receive both.

For further guidance, refer to the Registered Pension Schemes Manual RPSM12301420.

Q. What information will I need to complete a Registered Pension Scheme Return?

A. If you are the Scheme Administrator you will need:

  • details of the amounts to be reported on the Registered Pension Schemes Return
  • Pension Schemes Tax Reference (PSTR) – This will be shown on the notice you have received to file the return.

If you are a Practitioner acting on behalf of a Scheme Administrator you will need:

  • details of the amounts to be reported on the Registered Pension Scheme Return
  • Pension Schemes Tax Reference (PSTR)
  • the name, address of the Scheme Administrator who has approved the content of the Return and its submission to HMRC, together with their Scheme Administrator ID.

You must also confirm that the content of the return, together with its submission to HMRC have been approved by the Scheme Administrator.

Q. How do I submit a Registered Pension Scheme Return?

A. Since 16 October 2007 you must submit your Registered Pension Scheme Return online, using either HMRC’s free software or third party software via Pension Schemes Online.

For further information see Pensions Tax Simplification Newsletter No 30.

Q. What happens if I do not file a Registered Pension Scheme Return on time?

A. If the return is not received before the relevant filing date, the Scheme Administrator will be liable to an initial penalty of £100. Daily penalties of £60 may then be awarded for each day that the delay continues.
For further information about penalties refer to the Registered Pension Schemes Manual RPSM04301070.

Q. What should I do if I realise I have made a mistake on my Registered Pension Scheme Return?

A. You can amend the Pension Scheme Return online using either third party software or HMRC’s free software. If using HMRC’s free software, once you have logged on, select Pension Schemes Online. On the next screen select the ‘HMRC free software’ link. Select the scheme by entering the Pension Scheme Tax Reference or search for the scheme using the scheme name. Once you have found the scheme select ‘Registered Pension Scheme Return’ under the section headed ‘Reporting’. This will then present you with a list of registered Pension Scheme Returns submitted for the scheme. Select the ‘amend’ link to the right of the report you wish to amend. For further guidance on using the Online Service see 'Pension Schemes Online – A Guide to Using the Online Service for Scheme Administrators and Practitioners'.

Q. I have received a notice to file a Pension Scheme Return but my scheme does not prepare audited accounts. What should I do?

A. You should complete your Pension Scheme Return to 5 April in the year for which the return is due.

Q. Will I need to submit a Pension Scheme Return annually?

A. We will advise you if you are required to submit a return by issuing you with a notice to file. You should not complete a Pension Scheme Return unless you receive such a notice.

Q. Do I need to submit a Registered Pension Scheme Return as well as a Self Assessment Return?

A. A notice to complete a self assessment return will only be served on schemes that make repayment claims and the very small number of schemes that have trading income. The questions in the return will only be limited to those necessary to calculate repayments and profits. Typically, this return will be made by larger schemes and such schemes are not likely to receive a notice to file a Registered Pension Scheme Return (PSR).

However, it is possible that notices will be served on a scheme to make both types of return. If that happens, it will be necessary to make both returns. The information required in the PSR is different from that required by the SA return.

Q. I am a Practitioner acting for a Scheme Administrator. Do I need them to give HMRC authority for me to submit the Registered Pension Scheme Return to HMRC on their behalf?

A. No, it is not necessary for HMRC to be authorised to receive information as long as the Scheme Administrator has approved the content and for it to be submitted.