HMRC issues updated tax guidance for GMP equalisation
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 members...
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