{
  "url": "https://openlegislation.uk/draft-pensions-abolition-of-lifetime-allowance-charge-etc-no-3-regulations-2024/regulation-5",
  "json_url": "https://openlegislation.uk/draft-pensions-abolition-of-lifetime-allowance-charge-etc-no-3-regulations-2024/regulation-5.json",
  "legislation": "ukdsi/2024/9780348263930",
  "legislation_title": "The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024",
  "legislation_url": "https://openlegislation.uk/draft-pensions-abolition-of-lifetime-allowance-charge-etc-no-3-regulations-2024",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "The Registered Pension Schemes (Authorised Payments) Regulations 2009",
  "text": "(1) The Registered Pension Schemes (Authorised Payments) Regulations 2009 are amended as follows.\n(2) In regulation 5 (prescribed payments and taxation), in the opening words, for “Part 4” substitute “any of regulations 17 to 19”.\n(3) After that regulation insert—\n“5ZA A payment by a registered pension scheme that is described in regulation 19A or 19B of these regulations—\n(a) is a payment of a prescribed description for the purposes of section 164(1)(f) of the Finance Act 2004;\n(b) shall be treated for the purposes of Part 9 of ITEPA 2003 as pension that—\n(i) is paid to the recipient under a registered pension scheme; and\n(ii) accrues in the tax year in which the payment is made.”.\n(4) After regulation 19 (commencement lump sums paid after death) insert—\n“Commencement lump sums paid in reliance on inaccurate transitional tax-free amount certificate\n19A (1) A payment of the overpaid portion of a lump sum the whole of which is intended to represent a pension commencement lump sum, where the amount of the lump sum paid is calculated by reference to an amount specified on a transitional tax-free amount certificate.\n(2) In paragraph (1), “the overpaid portion”, in relation to a lump sum, means so much of it as—\n(a) was not a pension commencement lump sum, but\n(b) would have been a pension commencement lump sum if the amount specified on the certificate had been accurate.\nOther lump sums paid in reliance on inaccurate transitional tax-free amount certificate\n19B A payment of a lump sum which is intended to represent a trivial commutation lump sum or a winding-up lump sum, where—\n(a) the scheme administrator or insurance company acted in reliance on an amount specified on a transitional tax-free amount certificate when deciding that the lump sum was a lump sum of that description,\n(b) the lump sum was not a lump sum of that description, and\n(c) the lump sum would have been a lump sum of that description if the amount specified on the certificate had been accurate.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2009/1171. Regulations 17 to 19 were amended by paragraph 42 of Schedule 9 to FA 2024."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2024/9780348263930/regulation/5",
    "retrieved_at": "2026-10-30T14:40:42.389690+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}