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SAM123331 | Returns: trust returns: processing the pension scheme tax return (Action Guide)

From HM Revenue & Customs · Self Assessment Manual

Following the receipt of the Tax Return for Trustees of Registered Pension Schemes and after the actions to take on receipt have been taken follow steps 1 - 12 below.

For details of how to access the SA functions, select ‘Index Of Functions’ on the left of the screen.

This guide is presented as follows

Initial action in all cases

1. The return should be reviewed for any missing details which cause the return to be considered as unsatisfactory

2. Use Technical Support System (TSS) to enter return details. The SA Pension or SA Trust programmes on TSS are allocated by the Local Administrator and accessed through Single Point Security

Action on receipt of output to trustee

3. Separate the ACTION REQUIRED FOLLOWING DATA CAPTURE printout and put it to one side

4. Attach the letter to the Tax Calculation for the return

5. Issue the documents to the trustee of the registered pension scheme

Action to take on the ACTION FOLLOWING DATA CAPTURE printout

6. Use function CREATE RETURN CHARGE to enter the liability on the pension scheme’s SA record using the details shown on the printout

7. If the printout indicates that either the Mandatory Review for Possible Enquiry or Potential Selection for Enquiry Priority signal should be set

  • Use function ADD / AMEND ANNUAL COMPLIANCE DETAILS to

  • Set the Mandatory Review for Possible Enquiry signal for the reason entered on the printout. If there is more than one reason listed enter the other reasons in the Review Notes field

  • And if the Potential Selection for Enquiry Priority signal should be set, set the Potential Selection for Enquiry Priority signal to the value of 1 for the reasons shown on the printout

8. If the printout indicates that a repayment request has been made use function VIEW STATEMENT to establish

  • Whether the pension scheme record shows a credit balance. If not write to the trustee explaining why a repayment is not due

  • Whether any charges are due within the next 45 days. If so, and these reduce / eliminate the repayment claimed, contact the trustee and explain why a (full) repayment is not appropriate at this time

  • When payment was processed (posting date). If this falls within the last 14 days the payment is an uncleared payment. B/F the file until the 14 day period has elapsed and review the claim again

9. Use function ISSUE REPAYMENT FROM OVERPAID BALANCE to make the repayment to the trustee, agent or nominee

10. If the printout indicates that changes are required to the SA record, for example where an update is required to the trustees name and address, refer to subject ‘Trustee Detail Changes’ (SAM123130) for more information

11. If the printout indicates that the return contained a claim to reduce payments on account refer to section ‘Claim to Adjust Payments on Account’ in business area ‘Amend Payment’

Note: From 6 April 2002 claims to adjust are passed automatically from TSS to SA

12. File the printout with the return and file copy of the Tax Calculation, where issued, for future reference and to deal with any queries arising from any repairs made to the return