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
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date