Trustees forced to repay £193,000 after returning short service refunds to sponsor
Two trustees have been ordered to pay £193,000 into the Pilkington Tiles Pension Scheme after they moved surplus funds from the trustee bank account to the sponsoring employer.
Dean Burrows and Stephen Lloyd were also liable for meeting any tax charges that might occur as a result of returning the excess contributions to the company. Refunded surpluses are taxed at 35% for...
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