HMRC publishes surplus repayments order

Authorised surplus payment charge to be reduced from 35% to 25% from 6 April

Jasmine Urquhart
clock • 1 min read
HMRC has published its Order setting out the new 25% surplus repayment charge
Image:

HMRC has published its Order setting out the new 25% surplus repayment charge

HM Revenue and Customs (HMRC) has published its order to reduce the amount of tax due on surplus repayments, due to come into force from 6 April.

The Authorised Surplus Payments Charge (Variation of Rate) Order 2024 set out the new authorised surplus payment charge at 25%, (previously 35%), following the chancellor's announcement in the Autu...

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 Legislation

Isio launches support service for NHS McCloud employees

Isio launches support service for NHS McCloud employees

Service will address NHS employer pensions tax rollback, with members able to easily claim refunds

Jasmine Urquhart
clock 07 November 2024 • 1 min read
Autumn Budget 24: Labour hikes employers' National Insurance by 1.2 percentage points

Autumn Budget 24: Labour hikes employers' National Insurance by 1.2 percentage points

Pensions industry says the costs are at risk of being passed on to pension savers

Jen Frost
clock 30 October 2024 • 7 min read
UPDATED: Industry reacts to 'surprise' Pension Schemes Bill in King's Speech

UPDATED: Industry reacts to 'surprise' Pension Schemes Bill in King's Speech

Pensions Bill, decumulation solutions, superfunds and National Wealth Fund Bill welcomed by industry

Martin Richmond
clock 17 July 2024 • 10 min read
Trustpilot