PSI20.8.52 - Funding and Surpluses: Section 603 & Schedule 22 ICTA 1988. (Formerly Part II Schedule 12 FA 86) - Reduction of Surplus - General

(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)

In some cases, the loss of the tax reliefs on the excessive portion of the fund may be considered an alternative method of dealing with a surplus and chosen in preference to the methods specified elsewhere in the legislation and Regulations. This is acceptable.

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