BIM46070 - Specific deductions: pension schemes: wholly & exclusively: payments by third parties

The legislation dealing with the deduction of employer contributions to pension schemes (see BIM46005) only applies to contributions made by employers and former employers; remembering that employer for this purpose includes 바카라 사이트˜sponsoring employers바카라 사이트™ of the scheme.

To be allowable as a deduction in computing the third party바카라 사이트™s trading profits a 바카라 사이트˜third party바카라 사이트™ contribution must therefore satisfy the established general principles of being:

  • revenue expenditure,
  • made wholly and exclusively for the purposes of the third party바카라 사이트™s trade, and
  • deductible for the period concerned in accordance with GAAP.

There are three main situations in which someone other than an employer or former employer (a 바카라 사이트˜third party바카라 사이트™) may make contributions to a registered pension scheme.

  • Contributions required following the issue of a Contribution Notice or Financial Support Direction by the Pensions Regulator (BIM46050).
  • Contributions made under a guarantee arrangement (BIM46045).
  • Contributions made voluntarily by the third party (BIM37750 and BIM46065).

In each case, particular consideration needs to be given to the weight of reputation and morale purpose, in light of the facts established.