(This note is not part of the Order)
This Order amends section 207(4) of the Finance Act 2004 to reduce the authorised surplus payments charge from 35% to 25%. This reduces the charge to income tax which is imposed when an authorised surplus payment is made to a sponsoring employer by an occupational pension scheme that is a registered pension scheme.
A Tax Information and Impact Note covering this instrument is published on the website at www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.