# The Authorised Surplus Payments Charge (Variation of Rate) Order 2024, Note: 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/note (the official version)
Page: https://openlegislation.uk/authorised-surplus-payments-charge-variation-of-rate-order-2024/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.