Expenses and benefits: retirement benefit schemes
If you’re an employer and you pay contributions into a pension or retirement benefits scheme, you may have certain tax and reporting obligations.
What’s included
As well as registered pension schemes, retirement benefit schemes include any scheme which pays out retirement or death benefits for your employee or a member of their family or household.
What to report and pay
What you have to report and pay depends on whether or not the scheme is registered with HM Revenue and Customs (HMRC).
Registered schemes
If you pay contributions through a registered pension scheme, the company running the scheme will normally deduct and pay PAYE tax - so you don’t have to report or pay anything to HMRC.
Non-registered schemes
If you’re the ‘responsible person’ as defined in tax law, you have certain reporting requirements. You’ll also have to deduct and pay PAYE tax.
This area is complex. See the technical guidance below for more details or hire a professional to help you.
Technical guidance
The following guides contain more detailed information on registered and non-registered schemes.
Registered schemes
See the HMRC website for guidance on:
Non-registered schemes
See the HMRC website for guidance on:
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employer-financed retirement benefits schemes: definition of ‘scheme’
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employer-financed retirement benefits schemes: earnings of employees and office holders
General guidance
See the HMRC website for guidance on: