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Hornbuckle - Pension contributions deadline for the 2020/21 tax year

Pension contributions which qualify for the 2020/21 tax year need to be in the pension trustee bank account by 5pm on Thursday 1 April 2021 at the latest. The funds must show as received in the scheme bank account by close of business on that date, at the latest.

The supporting pension contribution forms must also be received by Hornbuckle by 5pm on Thursday 1 April 2021 at the latest. These can be sent in via post, email or fax.

Should we receive either the funds or the supporting forms after this deadline, the contribution will not qualify for this current tax year.

Please note that bank transfers can take up to five working days depending on your bank. We recommend contacting your bank in advance of making the payment.

Cheque contributions should arrive at our offices by Tuesday 23 March 2021. Funds can take up to seven working days to clear, using this payment method. For more details on the cheque clearing process please contact your bank directly. Cheque payments incur a processing fee of £150 + VAT.

Pension benefits to be paid in the 2020/21 tax year

In order to pay pension benefits in this current tax year, fully completed applications and instructions must be received by us and funds available in the scheme bank account by Tuesday 23 March 2021 for schemes with Bank of Scotland accounts and Thursday 18 March 2021 for all other scheme bank accounts.

Benefit payment requests need to be submitted prior to these dates together with any valuations as required, to allowing sufficient time for us to have completed all necessary statutory checks and calculations relating to the payment of benefits. If you require clarification for a particular pension scheme you can contact us.