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As the trustee of a registered pension scheme you may need to fill in form SA970 Tax return for trustees of registered pension schemes at the end of the tax year. If HM Revenue & Customs (HMRC) asks you to complete a tax return, you must always do so. This guide covers the practical aspects of completing the return.
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To find out how to obtain form SA970 Tax return for trustees of registered pension schemes, follow the link below. You'll also find out about the deadlines by which you must send in the return.
Tax returns for trustees of registered pensions schemes
There are five key steps for completing the Tax return for trustees of a registered pension scheme.
Make sure you've got the right forms. You'll need:
If you need extra copies, or you don't have the right forms, you can download them using the link below.
Download Self Assessment forms and guides for Trustees of Tax Return Pension Schemes
Collect all the information you need. This will depend on the pension scheme's individual circumstances but it's likely to include:
Use your records to complete all the pages of the tax return that apply. To check which records you should be keeping, read the guide below.
Record keeping for trustees of registered pension schemes
If you're going to calculate the tax yourself, work out how much you owe. The tax calculation guide for registered pension schemes (SA976) will help you. You must file the return by 31 October if you want HMRC to work out the tax for you.
Go to SA976 - Trustees of registered pension schemes tax calculation guide
Check current Income Tax rates and allowances
Finally, check through the tax return and make sure you've filled in all the relevant sections. Sign and date it then send it to:
HMRC
Pension Schemes Services
FitzRoy House
Castle Meadow Road
Nottingham
NG2 1BD
If your pension scheme has a 12 month accounting period that differs from the tax year - for example, it runs from 1 July to 30 June instead of 6 April to 5 April - you can base your tax return on the income that's been received during that accounting period. In this particular example you'd complete the 2010-11 tax return based on the accounting period ending on 30 June 2010.
However please note that if you decide to change the accounting period, you'll no longer be able to do this - you'll have to start basing your tax return on the tax year end instead. See below for how this works.
If you change the end-date for an accounting period - creating an accounting period that's either more or less than 12 months - you must complete all further tax returns based on the tax year end instead of the accounting period end. You’ll also need to take extra care to make sure you don't miss out any months during the year of the change over.
If you don't have exact figures you can use:
Use the 'Additional Information' section to say how you've arrived at these figures and why you can't use actual figures. Note that if you make adjustments at a later date and you've underpaid tax you may have to pay interest and penalties.
To enable HMRC to process the tax return as quickly as possible please:
Administering a pension scheme can be complicated. If you're already a trustee, or you're thinking about becoming one, consider taking advice from a solicitor. You may also find it helpful to talk to a tax adviser or accountant.
If you have problems completing your tax return, and to get forms and guides, call the Pension Scheme Services Helpline.
Contact the Pensions Scheme Services Helpline
Search for a solicitor on the Law Society website (Opens new window)
Find a tax adviser at the Chartered Institute of Taxation website (Opens new window)
Find a chartered accountant on the ICAEW website (Opens new window)
