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Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

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New Managing Pension Schemes service available for enrolment

HMRC is in the process of developing a new IT system for Pension Scheme administrators and practitioners. Pension scheme administrators are now being encouraged to enrol for the new Managing Pension Schemes service, which will replace the currently used Pension Schemes Online service.

The new service will:

  • Allow scheme administrators to view their pension scheme(s), eligible for migration – from later this year;
  • Provide up to date information on their pension scheme(s) and migrate them over to the Service – from Spring 2022; and
  • File Accounting for Tax returns for their pension schemes, replacing the current system – from Spring 2022.

To enrol for the service, go to “Register as a pension scheme administrator” on GOV.UK. In the ‘how to register’ section there is a link to the Managing Pension Schemes service. To make sure scheme administrators keep the same scheme administrator ID that they are currently registered with, they will need to enrol using the same credentials they use for the Pension Schemes Online service. HMRC requires them to complete similar information, as if they are registering as a new scheme administrator.

Pension scheme practitioners can also enrol for the Managing Pension Schemes service. To enrol for the service as a practitioner, they will again need to go to “Find out about the pension scheme practitioner role” on GOV.UK. To make sure they keep the same practitioner ID that they are currently registered with, they will need to enrol using the same credentials they use for the Pension Schemes Online service.

Pension scheme practitioners will need to ensure that their authorising scheme administrators have enrolled for the Managing Pension Schemes service and, when the functionality is available, provided up to date details for their pension scheme to make sure they can maintain full reporting access for the scheme(s).

HMRC has published more information on the migration of pension schemes on to the Managing Pension Schemes service in their “Managing pension schemes service newsletter – March 2021” which is available on GOV.UK. If you need any additional help or have further questions, you can also email migration.mps@hmrc.gov.uk