Finance Act 2004

257 Registered pension scheme return U.K.

(1) If the scheme administrator of a registered pension scheme fails to comply with a notice under section 250 (registered pension scheme return), the scheme administrator is liable to a penalty of £100.

(2) If the failure continues after a penalty is imposed under subsection (1), the scheme administrator is liable to a further penalty not exceeding £60 for each day on which the failure continues after the day on which that penalty was imposed (but excluding any day for which a penalty under this subsection has already been imposed).

(3) No penalty may be imposed under subsection (1) or (2) in respect of a failure after it has been remedied.

(4) If the scheme administrator of a registered pension scheme fraudulently or negligently—

(a) makes an [F1 inaccurate] return required by a notice under section 250, or

(b) delivers any [F1 inaccurate] accounts, statements or other documents with such a return,

the scheme administrator is liable to a penalty not exceeding £3,000.

Textual Amendments

F1 Word in s. 257(4)(a)(b) substituted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 7 para. 23(b)

Modifications etc. (not altering text)

C1 S. 257 modified (6.4.2006) by The Registered Pension Schemes (Splitting of Schemes) Regulations 2006 (S.I. 2006/569), regs. 1(1), 3(1)(2), Sch. 3 Pt. 1

Commencement Information

I1 Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284