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Reduction in rate of tax on return of surplus

With effect from 6 April 2024, the rate of tax payable on authorised employer payments from registered pension schemes will reduce from 35% to 25%: reg.2 of The Authorised Surplus Payments Charge (Variation of Rate) Order 2024 (SI 2024/335).

The policy paper published on 11 March 2024 can be viewed here.

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