In this section:
- Tax returns for pension scheme trustees
- Completing your tax return (registered pension scheme trustees)
- Record keeping (pension scheme trustees)
Completing your tax return (registered pension scheme trustees)
As the trustee of a registered pension scheme you may need to fill in form SA970 Tax Return for trustees of registered pension schemes. If we've sent you a return, you should complete it and send it back it to us.
On this page:
- Completing the SA970
- Using accounting dates rather than the tax year
- Steps for completing the Pension Scheme SA tax return
- What happens if you don't have exact figures?
- Avoiding common mistakes
- Getting help and advice
Completing form SA970
If you're a trustee of a registered pension scheme, you may receive form SA970 soon after the end of the tax year. As a trustee, by law you must tell us if you are liable to pay tax. If we haven't sent you a tax return, but you think you should get one, you must ask us for one.
The Self Assessment tax return pack that we send you includes a step by step guide to help you complete each section of the return. There's also a guide (SA975) that explains how to calculate your own tax if you want to.
You can download one from our website or call Pension Schemes Services on Tel 0115 974 1471, open from 9.00 am to 5.00 pm Monday to Friday except Christmas Day, Boxing Day, New Year's Day and bank holidays.
Go to form SA970, guidance and supplementary pages
You can't currently submit a registered pension scheme tax return over the Internet using our Self Assessment Online service - you must complete and send us a paper form.
The filing deadline is 31 October following the end of the tax year if you want us to work out the tax/repayment for you. If filed after that date we can't guarantee to tell you how much tax or repayment is due (if any). The final deadline for returning the form is 31 January.
Tax return deadlines and penalties
Using accounting dates rather than the tax year
If your scheme has a different accounting period from the tax year - for example, from 1 July to 30 June instead of from 6 April to 5 April - you can base your tax return on the income that's been received during that accounting period.
The period doesn't have to be a 12 month period - for example, the scheme accounting period may change from a 30 June year end to a 5 April year end. In this case, we would expect the period covered by the return to be the whole period since the last return, even if this is more than 12 months. You'll find more information about this on the front page of the SA970 and at the beginning of form SA975 Tax Return guide for trustees of registered pension schemes.
Go to all Self Assessment forms, notes and help sheets
If you use accounting dates rather than the tax year, make sure that you're consistent and use the same period each year. If you decide to change your dates so that you're in line with the tax - or fiscal - year instead, it's essential that you don't miss out any months in the process.
If the scheme's accounts haven't been drawn up for a 12 month period that ends in the previous tax year then enter on the tax return the income that's been received in the tax year ended 5 April.
Steps for completing the Pension Scheme SA tax return
There are five key steps for completing your tax return.
Step one
Make sure you've got the right forms. You'll need:
- the Registered Pension Scheme Tax Return - SA970
- the guide to help you complete it - SA975
- the tax calculation guide - SA976 - if you want to work out the tax
If you need extra copies, or you don't have the right ones, you can download them from our website or use the Self Assessment Orderline on Tel 0845 900 0404. The orderline is open from 8.00 am to 10.00 pm every day.
Go to all Self Assessment forms, notes and help sheets
Step two
Collect all the information you need. This will depend on the pension scheme's individual circumstances but it's likely to include:
- the annual accounts - if these have been prepared
- bank and building society statements
- dividend vouchers - but not for UK dividends
Income which is non-taxable - and no tax is being claimed back from - should not be included on the return.
Record keeping for trustees of registered pension schemes
Step three
Use your records to complete all the pages of the tax return that apply.
Step four
If you're going to calculate the tax yourself, work out how much you owe. The Pensions Scheme tax calculation guide (SA976) will help you. Remember to file the return by 31 October if you want us to work out the tax for you.
Go to form SA976, other forms, guidance and supplementary pages
Check current Income Tax rates and allowances
Step five
Finally, check through the tax return and make sure you've filled in all the relevant sections. Sign and date it and send it to us at the address shown on the front of the return.
What happens if you don't have exact figures?
If you don't have exact figures you can use:
- An estimate - a figure you want us to accept as your final figure.
- A provisional figure - one you want us to use until you can confirm the actual amount. You must tell us when actual figures will be available.
Use the 'Additional Information' section to say how you've arrived at these figures and why you can't use actual figures. If you make adjustments at a later date and you've underpaid tax you may have to pay interest and penalties.
Avoiding common mistakes
So that we can process the tax return quickly it's advisable to:
- make sure you sign and date the return
- check that you've completed all the relevant sections
- make sure you don't include notes on the return like 'per accounts' instead of including figures (see above if you don't have exact figures)
- don't include income which is non-taxable - and no tax is being claimed back from - on the return
Getting help and advice
If you have any problems completing your tax return you can call Pension Schemes Services on Tel 0115 974 1471, open from 9.00 am to 5.00 pm Monday to Friday except Christmas Day, Boxing Day, New Year's Day and bank holidays.
Administering a pension scheme can be complex. If you're already a trustee - or you're thinking about becoming one - you could consider getting advice from a solicitor, tax adviser or accountant.
Search for a solicitor on the Law Society website
Find a tax adviser at the Chartered Institute of Taxation website
