Tax relief for employer pension contributions is often presumed to be available. Emma Game (Slaughter and May) reviews the basic deductibility requirements relating to registered and non-registered schemes.
Pension contributions represent a significant cost for many businesses; tax relief associated with those contributions can therefore be extremely valuable.
This back to basics article looks first at the general rules governing deductibility of employer contributions to registered pension schemes for corporation tax purposes with the focus on defined benefit schemes. It then highlights some of the situations in which deductibility might be in doubt and what to do in those circumstances and ends by considering the position when the scheme in question is unregistered. Funded and unfunded employer-financed retirement benefits schemes are outside its scope and the asset-backed contribution rules are touched on only very briefly.
Registered pension schemes
The vast majority of UK...
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Tax relief for employer pension contributions is often presumed to be available. Emma Game (Slaughter and May) reviews the basic deductibility requirements relating to registered and non-registered schemes.
Pension contributions represent a significant cost for many businesses; tax relief associated with those contributions can therefore be extremely valuable.
This back to basics article looks first at the general rules governing deductibility of employer contributions to registered pension schemes for corporation tax purposes with the focus on defined benefit schemes. It then highlights some of the situations in which deductibility might be in doubt and what to do in those circumstances and ends by considering the position when the scheme in question is unregistered. Funded and unfunded employer-financed retirement benefits schemes are outside its scope and the asset-backed contribution rules are touched on only very briefly.
Registered pension schemes
The vast majority of UK...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
