This part of the website is about “excessive surpluses”. If you neither know, nor care, about this l concept, I suggest you may wish to surf somewhere else. Or stay around if you want, noone is excluded.

The concept is that the funds held from time to time should be no higher than a prescribed maximum. This contrasts with the MFR legislation which came into force in 1997 (10 years later than excessive surpluses), where the minimum fund was prescribed.

The excessive surpluses controls came into force in April 1987, as one element of the Finance Act 1986. In the hope that it may be useful, I think it is worth recording the main features of what is currently in place. As I find it easier to “see” things in diagrams, that is my chosen format.

If you do find anything wrong, please tell me about it

However, I specifically refuse to guarantee that there are no errors, whether major or minor, in the following.

From time to time, I intend to extend this site, but please be patient.