Jurisdiction(s):
United Kingdom

Key definition

Clearance procedure definition

What does Clearance procedure mean? In pensions practice, the clearance procedure is the process for obtaining a formal clearance statement from The pensions regulator (TPR) that, on the facts disclosed, it will not exercise its anti-avoidance powers in relation to a proposed act or transaction affecting a defined benefit scheme. It is a statutory mechanism under the Pensions Act 2004 and is typically sought by employers, purchasers, lenders and other connected or associated persons during corporate transactions, restructurings, refinancings, dividend payments or asset transfers. Clearance is voluntary, not a legal requirement, but is often used to manage regulatory risk and provide deal certainty....

HMRC non-statutory clearances: when and how to apply, exclusions, required content, reliance and timing; plus advance tax certainty service for major projects and SME R&D advance assurance pilot

Published by a LexisNexis Tax expert

Practice notes

FORTHCOMING CHANGE relating to new advance clearance processes:

After first being trailed in the Autumn Budget 2024 within the government’s Corporate Tax Roadmap, and then consulted on at the Spring Statement 2025, the Budget 2025 set out the consultation conclusions and confirmed HMRC will roll out a new advance tax certainty service in July 2026. This service is intended for eligible parties investing in ‘major projects’ with at least £1bn of in-scope UK spend, aimed at qualifying persons. The Budget 2025 announcements indicated that the service will cover a specified range of taxes, including corporation tax, VAT and stamp taxes, but will exclude transfer pricing, valuation, purpose-based tests and hypothetical cases. Clearances will bind HMRC (but not the taxpayer) from revising its interpretation of the law, applied to fully disclosed facts, for up to five years, provided facts and law are unchanged, with pragmatic renewal thereafter. Initially, no fees will be charged and anonymised clearances will not be published. Enabling legislation was included in Finance Bill 2026. Draft technical guidance was released on 10 December 2025...

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Web page updated on 21/05/2026

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