Shortened timetable for pension tax reporting

According to Scottish Equitable because not all parts of Her Majesty’s Revenue and Customs (HMRC) reporting systems are up and running online, people who complete the form by paper may miss the deadline if they don’t act now. The accounting for tax form has to be completed every quarter by pension scheme administrators if tax is owed on the scheme, and then once the form is completed the tax charge has to be paid. Although a similar form was used before 6 April, since A-Day the requirements have changed because of the new regime, and the first reporting date for the new system will be 5...