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Pension scheme returns

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The Registered Pension Schemes (Relief at Source) (Amendment) Regulations, SI 2018/150, require pension scheme administrators reclaiming tax from HMRC for relief given at source to submit annual returns of individual information by 5 July (currently 5 October) following the end of the year of assessment, with effect from 6 April 2018.

This is to allow sufficient time for processing of the correct rate in relation to Scottish taxpayers. The regulations also introduce a 90-day reporting deadline and interest charge for interim excess relief claims. Following consultation on a draft version, HMRC revised the deadline for excess relief claims from 30 days to 90 days and allowed the due date for annual repayment claims to remain at 5 October.