Paragraph 31 C1F1
This Part of this Schedule has effect for determining—
the amount of an unauthorised payment treated as made to a member of an investment-regulated pension scheme by virtue of section 174A, and
the time when such a payment is treated as made.
The amount is determined by—
finding the total taxable amount in relation to the unauthorised payment (see paragraphs 32 to 40),
apportioning that amount to the pension scheme (see paragraphs 41 to 43),
in a case to which paragraph 28 applies (acquisition etc of further interest in vehicle), making an adjustment under paragraph 44 to the amount mentioned in paragraph (b), and
apportioning that amount to the member to whom the payment is treated as made in accordance with paragraph 45.
Annotations
Textual amendments
- F1
Sch. 29A inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 13
Modifications
- C1
Sch. 29A para. 31 modified by S.I. 2006/207, reg. 4D (as inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes)(Amendment) Regulations 2006 (S.I. 2006/1960), reg. 9)