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19/07/2021 |

Pension schemes newsletter 2020

In Pension Schemes Newsletter 123, we explained that scheme administrators and practitioners will need to move their schemes under one administrator or practitioner ID on the Pension Schemes Online service, ahead of migration to the Managing Pension Schemes service. This is because scheme administrators and practitioners will only be able to hold one administrator or practitioner ID for each Corporation Tax Unique Taxpayer Reference (UTR). If you’re both a scheme administrator and practitioner, you’ll be able to hold an ID for each, under one Corporation Tax UTR. We’re looking at options for migrating schemes to the Managing Pension Schemes service and we’ll update you on this as soon as possible. We’re still encouraging scheme administrators and practitioners with multiple IDs to consider which ID they’ll use on the Managing Pension Schemes service. However, if you’ve not already taken action to move your schemes under one ID, you should wait until we give more information, as we may be able to help make the process easier.

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Leaf Financial Advisers Ltd. - Bristol Pension Advisers