Revenue has published two new guidance documents providing details on the VAT treatment of establishing and managing a pension scheme and the VAT treatment of the management of pension schemes. The new guidance consolidates information from previous related guidance documents, which have now been withdrawn.
The guidance on the VAT treatment of establishing and managing a pension scheme provides information on the relevant conditions for VAT deductibility in respect of costs incurred in the establishment, on-going management, administration, and management of the assets of a pension scheme.
Examples are included outlining the VAT treatment in situations where a pension scheme reimburses costs incurred by the employer and where the employer reimburses the pension scheme.
The new guidance on the VAT treatment of the management of pension schemes provides information on VAT treatment and VAT deductibility of defined benefit and defined contribution schemes.
Previous guidance on the VAT treatment of the management of defined benefit pension schemes and the management of a defined contribution occupational pension scheme are now marked as no longer relevant.
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