Taxes Consolidation Act 1997 Schedule 23 paragraph 3

Information about schemes other than approved schemes or statutory schemes

Paragraph 3 of Schedule 23 requires employers and scheme administrators to provide information to the inspector about retirement benefits schemes that are neither approved schemes nor statutory schemes.

• The paragraph applies to any retirement benefits scheme that is not an approved scheme and not a scheme established by law (a statutory scheme).
• An employer must notify the inspector of any such scheme within three months of it first coming into operation in relation to any of that employer's employees.
• The inspector may also require the employer to furnish details of any retirement benefits scheme relating to the employer and of the employees covered by such a scheme.
• The scheme administrator must likewise furnish any particulars the inspector requires about the scheme when requested to do so.