Paragraph 41

In Part 4 of FA 2004, section 206 (special lump sum death benefits charge) is amended as follows.

In subsection (1), for paragraph (c) substitute—

“(c)

a drawdown pension fund lump sum death benefit,”.

After that subsection insert—

“(1A)

The special lump sum death benefits charge also arises where—

(a)

a defined benefits lump sum death benefit, or

(b)

an uncrystallised funds lump sum death benefit,

is paid by a registered pension scheme in respect of a member who had reached the age of 75 at the date of the member's death.”

In subsection (4), for “35%” substitute “ 55% ”.

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