{
  "url": "https://openlegislation.uk/finance-act-2004/section-185B",
  "json_url": "https://openlegislation.uk/finance-act-2004/section-185B.json",
  "legislation": "ukpga/2004/12",
  "legislation_title": "Finance Act 2004",
  "legislation_url": "https://openlegislation.uk/finance-act-2004",
  "path": "section/185B",
  "kind": "section",
  "number": "185B",
  "heading": "Annual profits and deemed profits",
  "text": "(1) For the purposes of section 185A(3) the amount of the annual profits from the interest in the property is the total amount of profits received from the interest in the tax year—\n(a) by each person who holds the interest directly, and\n(b) at a time when the property is scheme-held taxable property.\n(2) For the purposes of section 185A(3) and (4) the amount of the deemed profits from the interest in the property for the tax year is—\nDMV10×DTPDYwhere—\nDMV is the deemed market value of the interest in the property for the year (see section 185C),\nDTP is the number of days in the year for which the property is scheme-held taxable property, and\nDY is the number of days in the year.\n(3) In this Part “scheme-held taxable property” means property—\n(a) which is taxable property, and\n(b) an interest in which is held by the pension scheme.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 185A-185I and cross-heading inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 6"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 185A-185I restricted by S.I. 2006/207, reg. 4B (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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2004/12/section/185B",
    "retrieved_at": "2026-10-29T09:17:16.113356+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}