DB sponsors could defer contributions for higher tax relief under Budget measures

Hope William-Smith
clock • 1 min read

Changes to corporation tax announced in the Spring Budget could see defined benefit (DB) scheme sponsors defer contributions in favour of tax relief, according to Barnett Waddingham.

Yesterday's (3 March) Budget saw chancellor Rishi Sunak confirm that corporation tax will rise from 19% to 25% from 2023, while personal tax thresholds will be frozen. Only firms with profits ov...

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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

DB endgame strategies 'not yet set in stone'

DB endgame strategies 'not yet set in stone'

WTW finds 57% of schemes plan to review their endgame strategy in the next two years

Martin Richmond
clock 28 May 2026 • 5 min read
DB scheme covenant risk rising due to global volatility, LCP finds

DB scheme covenant risk rising due to global volatility, LCP finds

Survey shows 49% of respondents say covenant risk has risen over the last 12 months

Martin Richmond
clock 28 May 2026 • 1 min read
Aggregate DB scheme funding levels rise in April, PwC finds

Aggregate DB scheme funding levels rise in April, PwC finds

Consultancy’s Pension Funding Index shows aggregate surplus rose to £220bn last month

Martin Richmond
clock 27 May 2026 • 3 min read
Trustpilot