The Government has announced that registered pension schemes will be required to send forms online and make electronic payments to the Inland Revenue from the start of the new simplified regime for taxation of pensions on 6 April 2006. This is part of the strategy to reduce compliance costs for industry and the ongoing drive to develop and increase take up of electronic services.

There are still a number of issues of detail on how precisely this can be achieved and the Inland Revenue is asking the pensions industry, software suppliers and other interested parties to work closely with them. A paper Registered Pension Schemes - taking forward online services has been published on the pensions simplification pages of the Inland Revenue website.

Anyone wushing to be involved in the work with the Inland Revenue on the developing online services for pension schemes should contact the Audit & Pension Schemes Services, on 0115 974 2340.



Discuss this news item in the PayPerShop Forum

...back to 12 November 2004


Source: www.gnn.gov.uk/environment/detail.asp?ReleaseID=134225