FSB: Business hits out at compulsory e-filing of pensions

The Federation of Small Businesses (FSB) says that forcing small businesses to file pension administration electronically should be a choice not an obligation.

E-filing pension administration comes into force today. All pension scheme administrators are now obliged to submit an array of information electronically. Submissions required include accounting for tax returns, applications to register a scheme, and event reports.

Many small businesses responsible for pension administration still work via postal and fax systems. They should not be forced into making costly changes to working practices and equipment simply to make the life of some civil servants easier.

Mike Cherry, FSB Financial Affairs Chairman, said:

“Making electronic filing compulsory is going to add to the burden already faced by small business owners. It is always good to have new options, but this is a not an option, just another compulsory requirement from Government, in an ever-lengthening list that they have to follow.

“Business owners are not going to be encouraged to grow, or indeed have the time to dedicate to growth, when they are spending too much of their time having to conform to more red tape.”

ENDS

Notes to Editors:

1. For further information on pensions e-mandation please visit:

http://www.hmrc.gov.uk/pensionschemes/efiling-faqs.htm

2. Small businesses employ 58% of the private sector workforce, contribute over 50% of UK GDP and make up more than 99% of all UK businesses.

3. The FSB is Britain’s biggest business organisation with over 210,000 members. It exists to protect and promote the interests of the self-employed, and all those who run their own business. More information is available at www.fsb.org.uk.

Contacts:

For interviews with FSB Chief Spokesman Stephen Alambritis or other senior FSB personnel please contact the FSB Press Office.

FSB Press Office
Matthew Knowles: 020 7592 8113 / 07917 628991

Simon Briault: 020 7592 8128 / 07917 628998

Belinda Webb: 020 7592 8121 / 07825 125 695

For regional FSB contacts please go to www.fsb.org.uk/regions