Policy paper
Revenue and Customs Brief 4 (2025): VAT deduction on the management of pension funds
This brief provides information about changes to VAT deduction on the management of pension funds.
Documents
Details
This brief explains a further policy change to VAT deduction on the management of pension funds.
Employers can now claim back all the VAT on investment costs linked to pension funds. They no longer need to split the costs with pension trustees. If trustees are providing pension fund management services and charging the employer, they can also claim back VAT on their costs, as long as they’re VAT-registered. Both must still follow the usual VAT rules.
Updates to this page
Published 18 June 2025