Guidance

Pension schemes newsletter 150 — May 2023

Published 31 May 2023

1. Relief at source — annual return of information for 2022 to 2023

We want to remind you that the deadline for submitting the 2022 to 2023 annual return of information is 5 July 2023. If you do not submit this on time, it may delay:

• payment of interim claims for the tax month ending 5 July 2023
• payment of any claims for subsequent months until we receive your annual return of information

You must make sure you submit the APSS590 Annual return of information declaration with your annual return of information, as this forms part of your return. Without it your return will fail processing.

You can either:

• send the APSS590 annual return of information declaration by post
• email the APSS590 annual return of information to reliefatsource.administration@hmrc.gov.uk and put ‘APSS590 Annual return of information declaration’ in the subject line

If you submit your annual return of information but it fails processing, we will:

• still consider this to be outstanding
• stop any subsequent interim repayment claims until we receive a re-submission

If failure occurs on the third submission, we will stop all future interim claims until we receive a further re-submission that is considered successful.

You can only submit your 2022 to 2023 annual return of information through the Secure Data Exchange Service.

2. Managing Pension Schemes service

2.1 Pension scheme migration

To migrate your pension schemes, log in to the Managing Pension Schemes service, select ‘Add a pension scheme from the Pension Schemes Online service’ and select each scheme you need to migrate.

You can find further guidance on migrating your pension schemes to the Managing Pension Schemes service on GOV.UK.

2.2 Pension Scheme Return

In Spring 2024, we will be releasing functionality to enable Pension Scheme Returns to be submitted on the Managing Pension Schemes service. The first returns will be for the tax year ending 5 April 2024.

When you file a Pension Scheme Return on the Managing Pension Schemes service, you will be able to choose to upload a file of member details or add the details manually. Where applicable, the return will ask for:

• first name
• surname
• date of birth
• National Insurance number (or reason for no National Insurance number being provided)

Once member details and transaction details such as loans, shares, scheme borrowing have been entered on the first Pension Scheme Return filed on the Managing Pension Schemes service, subsequent years returns will be pre-populated with information submitted on the previous year’s return. However, this will only happen if the return is of the same type in the following year.

For example, if a SIPP (self-invested personal pension) version of the Pension Scheme Return was completed for the tax year ending 5 April 2024, but during 2025 the scheme structure changes and it is no longer a SIPP, the Pension Scheme Return to be completed for the tax year ending 5 April 2025 will be the standard version and no pre-population of information will take place.

You can find more information on reporting to HMRC.

If your pension scheme is not already on the Managing Pension Schemes service, you’ll need to migrate your scheme by April 2024 to make sure you have plenty of time to complete your 2023 to 2024 Pension Scheme Return. This will mean when you receive a notice to file a Pension Scheme Return, you will have until 31 January 2025 to file it.

If you migrate your pension scheme later than April 2024, it could impact on the filing deadline. Where a scheme is migrated after 31 October 2024, the notice to file for tax year 2023 to 2024 will have a filing deadline of three months from the date of issue. If you migrate a number of schemes over the period after October 2024, each scheme will have an individual filing deadline.

If you delay migration further, then when you do migrate your pension scheme, notices to file for any applicable years will automatically be issued and backdated to the tax year 2023 to 2024. Where the notice to file is issued for any earlier years, the Pension Scheme Return must be submitted within 3 months of the date the notice to file was issued.