Tax time bomb for executive personal pensions

A-Day changes mean thousands of pensions investors will become the administrators of their schemes with the responsibility of record keeping but many are not aware of this and will face fines for not doing it

Beware the 14 August 2006. But this does not sound like a very important date does it? After all, most of us will be on holiday, but arguably the 14 August marks the date the implications of A-Day really begin. The 14 August is the deadline for submitting the first quarterly accounting for tax return and paying any tax due for any reportable events which occurred between 6 April and 30 June. Subsequent deadlines are 45 days after every quarter end. How many advisers or their clients are aware of the accounting for tax return? Who knows what has to be reported, the deadlines or fines for n...