HMRC reveals employer contribution guidelines

In the technical overview section of the RPSM, it states that employer contributions to pension plans will receive tax relief as long as they are incurred “wholly and exclusively” for the purposes of the employer’s trade or business. HMRC also statesthat special consideration needs to be given when assessing contributions made by members who are controlling directors, or who are connected to a controlling director, but that their contribution still has to be “wholly and exclusively” for the purposes of business. To help people understand what expenditure is included in these terms, HMRC...