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Impact of the Scottish rate of income tax on pension scheme members.
From January 2018, HMRC will notify administrators operating relief-at-source pension schemes their individual members’ residency tax status. This will allow them to apply the correct rate of relief for Scottish rate taxpayers from next April. HMRC will use the data submitted on the previous year’s annual return of individual information.
In Pension Schemes Newsletter 87 HMRC provides information about the new secure data exchange service (SDES), which, from April 2018, will run alongside existing methods for submitting annual returns of individual information. From 2019 administrators must submit this information electronically using SDES.
