Regulatory changes in the last few years have resulted in more onerous HMRC reporting duties for pension administrators. There are more types of pension payments to be reported and regular pension or annuity income payments may now need to be made alongside ad-hoc payments such as UFPLS for the same customer in the same tax period. Changes to the lifetime allowance have resulted in ever increasing numbers of pension scheme events to be reported in the annual returns.
APG provides a complete HMRC reporting solution for pension administrators. It processes all PAYE RTI and pension scheme returns to HMRC and handles tax code notifications and NINO verifications. APG reports on payments and tax positions for individuals and employers, maintains total tax liabilities and supports reconciliation of tax reported and tax paid.
APG manages the full reporting process. Payment and pension scheme data can be collated from multiple source systems and supplemented and corrected by users within the system. Returns may be reviewed and approved by suitably authorised users before submission to HMRC and a full audit trail of all submissions and user actions is maintained.
APG is compatible with HMRC’s new Internet XML reporting route, and comes with EDI and GFF compliant adaptor to allow upgrade to Internet XML HMRC reporting without change to internal systems. It can be used on its own or in conjunction with the APG payroll module for a complete pension payroll solution.APG HMRC Reporting has received HMRCI RTI Recognition.