Update - Revenue news

Finally learned?

Mandatory online filing for pension schemes has been postponed so that HMRC can offer a full online service, instead of introduce it on a piecemeal basis. Ivan Lewis, Economic Secretary to the Treasury, announced this in Parliament on 11 November, as did HMRC's Pensions Tax Simplification Newsletter 6 of the same date.
HMRC say that while scheme administrators will still be able to carry out nearly all of their legislative requirements online from April 2006, the exception will be for the small number of schemes that wind up after A day, where there is a requirement to send in an event report within three months. HMRC will offer flexibility over an interim period to enable the filing of this report and all other returns and reports of information, including registration of new pension schemes, by paper for a period of at least six months from 6 April 2006. This deferral of the introduction of mandatory online filing has been made in order to help scheme administrators, given that the full range of facilities will not be available at A-day. HMRC say that where the online functionality is available this will provide a quicker and more efficient service than one that is based on paper processes.
This flexibility is very welcome and perhaps shows that HMRC have learned the value of taking a more understanding line in their relentless drive for online filing. Importantly, it gives HMRC time to iron out any problems in their systems and, it is to be hoped, have everything ready by the time online filing is mandatory. As to when HMRC will make online filing mandatory, they say that this will be considered 'in conjunction with representatives of the pensions industry'.
HMRC's Pensions Tax Simplification Newsletter 6, dated 11 November 2005

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