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We are due to take delivery of a system upgrade on Monday 13th July at 7.30am. This means Altair, including ESS, will not be available first thing in the morning. We anticipate this will take about 2 hours to complete, but we will email again as soon as the system is available.
Please accept our apologies for any inconvenience caused.
As previously advised in the April 2020 Pensions Line newsletter, the 2019/2020 Annual Allowance calculations for all current contributing scheme members must be completed by 6th October 2020. We asked all employers to provide us with information of their employees by 5th July 2020, to ensure we meet the mandatory October deadline.
We understand that employers may have experienced issues with working arrangements due to Covid-19 which may have caused delays in responding. However, there has been no extension to the 6th October 2020 deadline so we are still required to provide Annual Allowance statements for employees by that date. If you have not already done so (thank you to those who have already replied), please could you provide the following information by return, no later than 31st July 2020, as this is now overdue:
To help reduce the number of individual requests for pensionable pay relating to these calculations, we have identified two categories of members that we consider may potentially breach the current HMRC limit of £40000:
• Employees who receive an annual salary of £90,000 or more per year, or
• Employees that have had an increase in salary over the last year of £5,000 or more.
It may still be necessary to request further pay information for other employees that have differing circumstances, but we hope that by providing these details annually from now on, these requests will reduce in number.
For employees that fall into either of the above two categories, please arrange for the Annual Allowance Spreadsheet on our website to be completed fully and returned to us.
Please send the data titled ‘Annual Allowance 2019/2020’ to our secure mailbox at: finance.pensionstechnicaltraining-mailbox@devon.gov.uk .
You may also use this mailbox for queries relating to the spreadsheet and Annual Allowance.
Please note that the Annual Allowance date is a legal deadline for the provision of the information under Regulation 15A The Registered Pension Schemes (Provision of Information) Regulations 2006 - SI 2006/567. The annual allowance calculations must be actioned and notified by Peninsula Pensions to members by 6th October 2020. See the HMRC Pensions Tax Manual.
In accordance with HMRC guidelines if the required information is not supplied on time, the person(s) responsible for sending that information to us can be liable to the penalties in accordance with Section 98(1) Taxes Management Act 1970 described at PTM160800.
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