# Finance Act 2004, Paragraph 12A


(1) In this Part of this Schedule, a reference to the amount of an individual’s lump sum allowance that is available on the individual becoming entitled to a lump sum, or being paid a lump sum, is to the amount of that allowance that would be so available on the following assumption.
(2) The assumption is that the individual becoming entitled to or (as the case may be) being paid the lump sum was a relevant benefit crystallisation event within the meaning of section 637Q of ITEPA 2003 (availability of individual’s lump sum allowance).
(3) In this Part of this Schedule, a reference to the amount of an individual’s lump sum and death benefit allowance that is available on the individual becoming entitled to a lump sum, or being paid a lump sum, is to the amount of that allowance that would be so available on the following assumption.
(4) The assumption is that the individual becoming entitled to or (as the case may be) being paid the lump sum was a relevant benefit crystallisation event within the meaning of section 637S of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance).
(5) When making that assumption in relation to the reference in paragraph 2(c) (permitted maximum for a pension commencement lump sum) any provision under which section 637R of ITEPA 2003 (individual’s lump sum and death benefit allowance) is treated as specifying the member’s enhanced lump sum and death benefit allowance (determined under paragraph 20H of Schedule 36 to this Act) is to be disregarded.

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/29/paragraph/12A (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-29/paragraph-12A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.