Stamp Duties Consolidation Act 1999 section 125B

Levy on pension schemes

Section 125B (now repealed) imposed a temporary annual stamp duty levy on the market value of pension scheme assets for the years 2011 to 2015.

• The levy was charged on the aggregate market value of scheme assets, with foreign employment pension assets excluded.
• The rate was 0.6% for 2011, 2012 and 2013, rising to 0.75% for 2014 and falling to 0.15% for 2015.
• The chargeable person was the scheme administrator, or the insurer in the case of a contract of assurance, and both were jointly and severally liable with the trustees.
• An electronic statement and payment were due to Revenue by 25 September each year, and the levy could be recovered by adjusting scheme benefits.