HMRC produces a number of pension-related newsletters that are aimed to provide guidance and updates to advisors. One such newsletter is the relief at source (RAS) newsletter published by HMRC’s Pension Schemes Services. UK payroll professionals should familiarise themselves with this, even if they are not directly involved in pension administration.
The December 2018 edition provides information under three main topic headings which we detail in brief below:
The notification of residency status report for 2019/20
This says that the annual return to scheme administrators in January 2019 will include a new residency status that will indicate if the pension scheme member has been identified as Welsh (i.e. a Welsh taxpayer). So there will be four statuses shown on the report that will also show the correct National Insurance number:
- S = Scottish taxpayer
- C = Welsh taxpayer
- U = unmatched
- Blank = rest of the UK taxpayer
The annual return of information for 2018/19
The September 2018 newsletter advised of changes to the annual return for 2018/19 and that submissions would only be accepted through the Secure Data Exchange Service (SDES). This article explains that HMRC will be publishing new registered pension schemes electronic flat text file specifications in early 2019.
The Global Payroll Association recommends reading the September newsletter as a new registered pension scheme relief at source spreadsheet becomes available alongside the current version. 2018/19 returns can be submitted through SDES on the new version of the existing version.
The Scottish budget
The December 2018 newsletter advises about the upcoming Scottish budget on the 12th of December 2018 and how they will publish further information about it if the outcomes of the budget affect relief at source claims.
HMRC produces a number of pension-related newsletters that are aimed to provide guidance and updates to advisors. One such newsletter is the relief at source (RAS) newsletter published by HMRC’s Pension Schemes Services. UK payroll professionals should familiarise themselves with this, even if they are not directly involved in pension administration.
The December 2018 edition provides information under three main topic headings which we detail in brief below:
The notification of residency status report for 2019/20
This says that the annual return to scheme administrators in January 2019 will include a new residency status that will indicate if the pension scheme member has been identified as Welsh (i.e. a Welsh taxpayer). So there will be four statuses shown on the report that will also show the correct National Insurance number:
- S = Scottish taxpayer
- C = Welsh taxpayer
- U = unmatched
- Blank = rest of the UK taxpayer
The annual return of information for 2018/19
The September 2018 newsletter advised of changes to the annual return for 2018/19 and that submissions would only be accepted through the Secure Data Exchange Service (SDES). This article explains that HMRC will be publishing new registered pension schemes electronic flat text file specifications in early 2019.
The Global Payroll Association recommends reading the September newsletter as a new registered pension scheme relief at source spreadsheet becomes available alongside the current version. 2018/19 returns can be submitted through SDES on the new version of the existing version.
The Scottish budget
The December 2018 newsletter advises about the upcoming Scottish budget on the 12th of December 2018 and how they will publish further information about it if the outcomes of the budget affect relief at source claims.