Taxman tackles asset-backed employer pension payments

Her Majesty's Revenue and Customs (HMRC) consultation relates to employers making regular payments into defined benefit (DB) schemes using an income stream which is secured against an asset. For employers, the method can be more manageable than making one-off lump payments into staff retirement funds, and the pension scheme gains security with the right to the underlying assets if the payments stop. But the government is concerned employers using this method can receive tax relief twice; once for the value of a future income stream, and again for each instalment. Option A in HMRC's...