Explanatory note

These Regulations prescribe any benefit which is provided under the Armed Forces and Reserve Forces (Compensation Scheme) Order 2005 (S.I 2005/439) as an excluded benefit under section 393B(3)(d) of the Income Tax Earnings and Pensions Act 2003 (c. 1) and hence not a relevant benefit for the purposes of Chapter 2 of Part 6 of that Act.

A regulatory impact assessment in respect of the provisions of Part 4 of the Finance Act 2004 and subordinate legislation under it was published by the Board of Inland Revenue on 8 April 2004, and is available on the website of Her Majesty’s Revenue and Customs at www.hmrc.gov.uk/ria/simplifying-pensions.pdf or (for hard copies) by writing to the Ministerial Correspondence Unit, 1st Floor Ferrers House, PO Box 38, Castle Meadow Road, Nottingham, NG2 1BB.