PSI17.2.49 - Tax Treatment of Approved Schemes and Payments by Approved Schemes: Taxation of Payments to Scheme Members - Tax on Repayment of Surplus AVCs

(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)

[PN17.31]

Where an employee takes a refund of contributions on leaving service (see Part 13 Section 2), any part of that refund which comprises a return on AVCs is chargeable to tax under section 598 (see PSI17.2.36) and not under section 599A.

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