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What happens if the pension scheme changes its accounting year end when they have been completing the SA return on the account basis?

April 26, 2017Accounting changes completing happens Pension Return SA Scheme year

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What happens if the pension scheme changes its accounting year end when they have been completing the SA return on the account basis?

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A. The completion of the SA return on the accounts basis was an easement. This was given on the understanding that if the scheme changed its accounting year end it would revert to the strict fiscal basis. Once there has been a change of account date the strict fiscal basis applies in the future.