HMRC's Guaranteed Minimum Pension (GMP) equalisation tax treatment

Published on: 26 April 2022

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Specialist Tax Regulatory Materials

Article summary

The Pensions and Lifetime Savings Association (PLSA) has issued additional information on HMRC’s GMP equalisation guidance on pensions tax considerations when equalising benefits for the effects of inequalities in GMPs. PLSA clarifies the tax treatment of the interest element, particularly in relation to tax due and responsibilities of pension schemes to deduct the tax due at the source.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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