Tax Reports

APSS301 Checklist (SSASs)

All schemes with the selected scheme statuses are listed, showing whether the Scheme Return has been submitted. This is not as detailed as the information in the ‘APSS301 Monitoring’ report below.

The report does not look at the date that a scheme ceased. Any schemes with status of ‘Wound Up’ will be ignored on the basis that the return was submitted shortly after winding up.

Any schemes that started after the end of the tax year will be identified with a comment.

It shows the returns that have been submitted, with the total submitted and total not yet submitted.

The notes field indicates which returns have been submitted by a practitioner. It also shows whether the independent trustee is not the administrator or there is no independent trustee.

APSS313 Checklist (SIPPs)

It shows the SIPPs where the data has been ‘finalised’, using Omni’s Pension Schemes Online, so that the return can be submitted (there is just one return for the whole master trust).

It also shows the SIPPs that have not been finalised but have a property or a share in a property syndicate.

The APSS313 has to include any property held at any time in the tax year (even if bought shortly before the end of the year or sold shortly after the start of the tax year). Property bought after the end of the tax year is excluded. Property sold before the start of the tax year is excluded.

Only schemes that started after the end of the tax year are ignored. Schemes that ceased after the beginning of the tax year are included.

The 6 way filter screen is not shown because the scheme status is not taken into account. Schemes with status of ‘Quote’ and ‘Aborted’ are excluded.

Any schemes that have bought assets from connected parties have to be identified separately.

VAT Quarters

A list of all schemes with VAT returns due in a selected month. If you subscribe to the Omni Work module and the ‘VAT retuns to Diary’ setting is ticked (in System, Master User Options, Settings – Worklog tab) then you will be given the option of adding the records to the Diary.

VAT Not Paid or Reclaimed

The report shows all bank transactions that have VAT included, where the VAT return is due and the VAT hasn't been paid.

The ‘VAT paid date’ in the rent payment record is used to determine whether the VAT has been paid. Similarly, for expenditure, the dates are stored in the ‘Other Income/Expend’ screen.

If the VAT return should have been sent (i.e. 1 month after the end of the VAT quarter) then the payment is shown as overdue. Otherwise, if the VAT quarter has ended, the payments are shown as ‘Due’.

Any payments received in a VAT quarter that has not yet ended are not shown (as they are not yet due).

The report includes imported rent, rent not imported, other income and other expend. Transactions received before 31/03/2007 are ignored.

Expected transactions are ignored (the report assumes that the cash accounting basis is being used).

Schemes Registered for VAT

A list of all schemes registered for VAT, showing the date registered, VAT quarter, VAT number and the signing powers on the main bank account. The VAT online user ID and password are also shown.

Drawdown Death Lump Sums

A list of all schemes and members with lump sums paid on death from drawdown funds with the date the lump sum was paid, tax due and the date tax is due (45 days after the end of the quarter).

Pension Tax Code Listing

A list of all pensioners’ tax codes and their payroll department.

APSS301 Monitoring

This option is more specific than the APSS301 Checklist above (which only shows whether a return has been submitted or not). This return shows the information stored in the main Omni program under ‘Scheme, APSS Scheme Returns’.

It can be updated to show whether a return is required or not and what the current position is. Omni will, when generating the records for the new tax year, indicate the general types of investments held by the scheme at the end of that tax year. If the Worklog module is used, it also shows details of the latest fee stored with a Work type of Accounts (the date recorded rather than the date invoiced is shown).

The permanent scheme return notes are shown, as well as the notes that relate solely to the year selected.