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Glaxo Welcome Pension Plan Voluntary Scheme Pays Request Form This form should be completed if you wish to use the Voluntary Scheme Pays facility to pay the Annual Allowance tax charge from your Plan

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How to fill out request for scheme pays

01

Obtain the scheme pays application form from your pension scheme provider.

02

Fill out the form with all required information, including your personal details, total pension contributions subject to the annual allowance charge, and the amount you wish the scheme to pay on your behalf.

03

Submit the completed form to your pension scheme provider for review and processing.

04

Wait for confirmation from the scheme on whether they will agree to pay the amount on your behalf.

Who needs request for scheme pays?

01

Individuals who have exceeded the annual pension contribution allowance and are facing a tax charge may need to request for scheme pays.

02

Those who are unable to pay the tax charge out of their own pocket and wish to have the amount deducted directly from their pension scheme may also need to request for scheme pays.

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What is request for scheme pays?

Request for scheme pays is a formal request submitted by pension scheme members to cover an annual allowance tax charge arising from their pension savings.

Who is required to file request for scheme pays?

Members of pension schemes who have reached the annual allowance limit and have an associated tax charge are required to file a request for scheme pays.

How to fill out request for scheme pays?

To fill out a request for scheme pays, members should complete the appropriate forms provided by their pension scheme, ensuring all required information, such as personal details and tax charge amounts, are accurately filled in.

What is the purpose of request for scheme pays?

The purpose of request for scheme pays is to allow pension scheme members to defer the payment of their annual allowance tax charge by having it paid directly from their pension benefits.

What information must be reported on request for scheme pays?

The information that must be reported includes the member's details, the annual allowance tax charge amount, the relevant scheme details, and any other information specified by the pension scheme.

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