Written Question · S1W-25853 · Session 1
What enquiries it has made and what information it has received on the tax liability of the recipients of payments under the distribution o…
The question
To ask the Scottish Executive what enquiries it has made and what information it has received on the tax liability of the recipients of payments under the distribution of the National Bus Company pension scheme; whether these payments were free of tax; whether copies of all relevant correspondence will be placed in the Scottish Parliament Information Centre, and whether it will meet the members of the Scottish Bus Group Pensioners Action Committee who submitted petition PE500 and who appeared before the Public Petitions Committee on 7 May 2002 to discuss points of concern raised at that meeting.
The answer
The tax liability of individuals under the National Bus Company (NBC) distribution will depend on the method of distribution determined by the trustees of the NBC pension schemes in individual circumstances. Some pension scheme members will receive an element of their share of the distribution in tax-free payments as well as increased pension benefits. This is allowable in the NBC case because payments are being made directly from a pension scheme. This is a matter for the trustees of the NBC pension schemes and the Inland Revenue. I will respond to the Petitions Committee on matters they have raised with me following the meeting in question.
In the Official Report
No contribution in the Official Report cites S1W-25853 by reference.