# The Authorised Surplus Payments Charge (Variation of Rate) Order 2024

S.I. 2024/335 · made 7 March 2024

This Order amends section 207(4) of the Finance Act 2004 to reduce the authorised surplus payments charge from 35% to 25%. This reduces the charge to income tax which is imposed when an authorised surplus payment is made to a sponsoring employer by an occupational pension scheme that is a registered pension scheme.

Made under: Finance Act 2004 (Section 207)

PDFs: Printed copy https://openlegislation.uk/authorised-surplus-payments-charge-variation-of-rate-order-2024/pdf/uksi_20240335_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/authorised-surplus-payments-charge-variation-of-rate-order-2024/pdf/uksiem_20240335_en_001.pdf

## Introductory text

INCOME TAX
Made 7th March 2024
Laid before the House of Commons 11th March 2024
Coming into force 6th April 2024
The Treasury make this Order in exercise of the power conferred by section 207(5) of the Finance Act 2004.

## 1 Citation and commencement

This Order may be cited as the Authorised Surplus Payments Charge (Variation of Rate) Order 2024 and comes into force on 6th April 2024.

## 2 Decrease in rate of authorised surplus payments charge

In section 207(4) of the Finance Act 2004 (rate of authorised surplus payments charge) for “35%” substitute “25%”.

## Signature

Amanda Solloway
Mike Wood
Two of the Lords Commissioners of His Majesty's Treasury
7th March 2024

## Explanatory note

(This note is not part of the Order)
This Order amends section 207(4) of the Finance Act 2004 to reduce the authorised surplus payments charge from 35% to 25%. This reduces the charge to income tax which is imposed when an authorised surplus payment is made to a sponsoring employer by an occupational pension scheme that is a registered pension scheme.
A Tax Information and Impact Note covering this instrument is published on the website at www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

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Source: https://www.legislation.gov.uk/uksi/2024/335 (the official version)
Page: https://openlegislation.uk/authorised-surplus-payments-charge-variation-of-rate-order-2024
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.