British Steel Pension Scheme

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Taxation of pension

Your monthly pension payments are treated as income and are subject to Pay As You Earn (PAYE) income tax.

HM Revenue and Customs (HMRC) notifies both you and the Pensions Office of the tax code which should apply for the new tax year. The Pensions Office can only accept tax code changes directly from HMRC. Your new tax code reflects your circumstances in the forthcoming tax year and so is likely to be different to the one shown on your P60 (which refers to the previous tax year).

All tax enquiries should be directed to:

H.M. Revenue and Customs
Centre 1
East Kilbride
G79 1AA

Phone 0845 300 0627

Please quote your National Insurance number and the Scheme Reference number which is 961/084181X, when contacting Centre 1.