Reminders for pension schemes

HMRC’s Pension Schemes Newsletter 165 highlights the following:

• Pension scheme returns: reminder that from April 2025 pension scheme returns for 2024/25 onwards will need to be filed via the Managing Pension Schemes service.
• Pension payments to trustees in bankruptcy: HMRC flag up an error in previous guidance (in Pension Schemes Newsletter 93) which said that normal income tax rules apply to payments to trustees in bankruptcy. HMRC say ‘we remain of the view that such payments are taxable only at the basic rate even if the member is a higher rate taxpayer as set out in our guidance at CWG2’.
• Tax treatment of tax-free lump sums paid back into a registered pension scheme: HMRC say that the payment of a tax-free lump sum cannot be undone and the member’s lump sum allowance will not be restored. Unauthorised payments charges may apply if contributions to pension schemes are...