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HMRC internal manual

Company Taxation Manual

Corporation Tax: management expenses: pension contributions: pension protection fund contributions

Pensions Act 2004 introduced the Pension Protection Fund (PPF) and a Fraud Protection Fund, funded by levies on schemes eligible for protection (PTM043200).

Under FA04/S199 a contribution to the PPF is deemed to be a contribution to the pension scheme and so should be treated the same as any other payment (seeBIM46090).

It should be allowed in the AP in which it is paid or in the period including the last day of business if the paying company has ceased. A payment to the Pension Protection Fund is not subject to the spreading rules (Regulation 21 The Pension Protection Fund (Tax) Regulations 2006).