Pensions tax: overview

This practice note gives an overview of the current tax regime for pension schemes in the UK. The note summarises the main rules applying to pension schemes that have registered with HMRC, including those concerning the annual allowance, the lifetime allowance and the availability of tax relief on contributions or accruals. Also considered are HMRC's requirements regarding authorised pensions and lump sums and details the tax charges levied by HMRC on unauthorised payments. In addition, the note briefly summarises the pension flexibility reforms that were introduced in the UK on 6 April 2015.


The full text of this resource is available by logging in or by requesting a trial. If you have any questions, please contact us or your Practical Law Account Executive.

Free trial

A free trial will give you:

Unlimited access to our online legal know-how services during the trial period
Full training and support
Four issues of Practical Law The Journal, the companion to Practical Law online
Weekly update e-mails on current legal developments in your practice area

Log in using Practical Law username

Only use this login if you have not set up OnePass for Practical Law

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247243410520", "objName" : "Pensions tax overview", "userID" : "2", "objUrl" : "", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "false", "analyticsPermCookie" : "2dbc80ef:156d4a97f41:6897", "analyticsSessionCookie" : "2dbc80ef:156d4a97f41:6898", "statisticSensorPath" : "" }