HMRC’s Pension Schemes Newsletter 143 confirms the following:
for the 2023/24 tax year, the relevant rate of tax for relief at source schemes will be 20% (meaning relief will be given at 20% even though the basic rate will be 19%) to give one year’s grace to adjust IT systems; and
the proposal to introduce a new reportable event for certain public sector pension schemes from April 2023 has been withdrawn, with no new reporting requirement from that date.
HMRC’s Pension Schemes Newsletter 143 confirms the following:
for the 2023/24 tax year, the relevant rate of tax for relief at source schemes will be 20% (meaning relief will be given at 20% even though the basic rate will be 19%) to give one year’s grace to adjust IT systems; and
the proposal to introduce a new reportable event for certain public sector pension schemes from April 2023 has been withdrawn, with no new reporting requirement from that date.
