Pensions: alternatively secured pensions: liability and accountability
The scheme administrator is liable for payment of any tax that is due in connection with an ASP fund.
The scheme administrator is also responsible for delivering an account on Form IHT100 and the new event form IHT100g.
The scheme administrator must deliver the account within twelve months from the end of the month in which:
- the death occurs,
- the scheme administrator becomes aware of the death, or
- the person receiving a dependant’s pension ceases to be a relevant dependant of the member (IHTM17354).
Where no charge arises on the scheme member’s death (because, for example, the fund is expended on relevant dependant’s benefits or is paid to charity) the scheme administrator will deliver a Form IHT105 giving brief details of those who inherit the leftover ASP funds.
The form IHT400 and return of information forms used for excepted estates have been take account of the charges arising on ASP funds.