HMRC have issued a reminder to trustees of registered pension schemes that penalties will be charged where a pension scheme SA return is filed late even if no tax is due.

The self-assessment return, SA970, for trustees of registered pension schemes is not available to complete online. Scheme trustees who have received a SA970 Notice to File from Pension Schemes Services should complete the SA970 return and send it to Pension Schemes Services, FitzRoy House, Castle Meadow Road, Nottingham NG2 1BD.

HMRC advise that trustees may have received a reminder to send in a paper return by 31 October 2011 however the deadline for the SA970 paper return is 31 January 2012 and not 31 October.

HMRC also advise that the new penalties for Income Tax Self-Assessment late filing introduced this year also apply to Pension Schemes SA Returns, even if no tax is due. The new penalties are:

• an uncapped amount of £100;
• at three months an automatic daily penalty of £10 per day, up to a maximum of £900;
• at six months 5 per cent of tax due or £300, whichever is the greater;
• at 12 months a further 5 per cent or £300.

For more information visit http://www.hmrc.gov.uk/pensionschemes/tax-returns-trustees.htm