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Retirement Benefit Schemes
Employer-Financed Retirement Benefits Schemes – New excluded benefits for former members of the armed forces
New regulations allow certain fees to former members of the armed forces and their family members to be exempt from tax. Section 394 of the Income Tax (Earnings and Pensions) Act 2003 imposes a tax charge on the provision of relevant benefits from an employer-financed retirement benefits scheme (EFRBS). For example, if a retired employee continues to [...]
