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Pension schemes newsletter

Source: HM Revenue & Customs | | 14/01/2020

A new pension schemes newsletter has been published by HMRC. The latest edition of the newsletter concerns the development and rollout of the Managing Pension Schemes Service. The Managing Pension Schemes service will ultimately fully replace Pension Schemes Online as HMRC’s online service for managing pension schemes.

HMRC is now focusing on the rollout of phase 2 of the service to bring pension scheme reporting and practitioner registration and authorisation to a pension scheme onto the service. Phase 2 will be delivered over a number of releases throughout the next few years and HMRC have already started to design and develop the features that will be introduced first.

This includes Accounting for Tax (AFT) return which will allow users to create, compile, submit, view and amend AFT returns on the Managing Pension Schemes service. From the quarter beginning 1 April 2020, all schemes registered using the service, will be able to compile and submit the AFT return online.

After this launch, HMRC will work on rolling out the Pension Scheme Return (PSR) and introduce event reporting.

 

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