PSI5.3.16 - Contributions by Employers: Special Contributions - "Hancock" Type Annuities provided Through an Exempt Approved Scheme

(This archived guidance relates to HMRC discretionary practice before the 6th April 2006. For current guidance on Registered Pension Schemes see the Registered Pension Schemes Manual)

Treat such "Hancock" type payments to an exempt approved scheme as special contributions and spread them as necessary if they exceed both £25,000 and the aggregate ordinary annual contribution to all exempt approved schemes of the employer. But "Hancock" payments made to finance cost of living increases on pensions already in payment are exempt from spreading (see PSI5.3.4).

Contact: | Date issued: | Next review: