The Authorised Surplus Payments Charge (Variation of Rate) Order, SI 2024/335, reduces the rate of the authorised surplus payments charge from 35% to 25% with effect from 6 April 2024. An authorised surplus payment is a payment made by the pension scheme administrator to the sponsoring employer where, following an actuarial valuation, the scheme has a surplus. The administrator must deduct the tax charge from that payment and account for it to HMRC.
The Authorised Surplus Payments Charge (Variation of Rate) Order, SI 2024/335, reduces the rate of the authorised surplus payments charge from 35% to 25% with effect from 6 April 2024. An authorised surplus payment is a payment made by the pension scheme administrator to the sponsoring employer where, following an actuarial valuation, the scheme has a surplus. The administrator must deduct the tax charge from that payment and account for it to HMRC.
