23 January 2025
HM Revenue and Customs’ (HMRC’s) pension schemes newsletter for January 2025 is here.
It brings updates on the following areas:
- Inheritance tax on pensions consultation
- Tax codes for pensions
- Pension scheme return
- Relief at source
- Lifetime allowance protections and enhancements
- Low earners anomaly — payment update
- Public service pensions remedy
- Pension flexibility statistics
In the newsletter, HMRC states they remain committed to the low earners net pay arrangement anomaly. However, the 2024-25 payments are likely to happen later than planned, in 2026.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.