HMRC issues updated tax guidance for GMP equalisation

Holly Roach
clock • 3 min read

HM Revenue and Customs (HMRC) has updated its tax guidance for GMP equalisation, detailing how pension schemes can resume paying lump sum benefits to members without adverse tax consequences.

The tax office's July GMP equalisation newsletter notes that for most types of lump sum benefit, where an unequalised lump sum has been paid in the past, trustees will have a route to pay a top-up ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Range of industry people moves, impact of LDI crisis on DB funding, Citrus appoints Russell Investments

Professional Pensions
clock 13 February 2025 • 1 min read
TPR chair Sarah Smart to step down

TPR chair Sarah Smart to step down

Board chair Sarah Smart announces she will step down from role in July

Martin Richmond
clock 13 February 2025 • 2 min read
Asset owner coalition launches climate stewardship statement

Asset owner coalition launches climate stewardship statement

Coalition is led by the People’s Pension, Brunel Pension Partnership and Scottish Widows

Holly Roach
clock 13 February 2025 • 3 min read
Trustpilot