Paragraph 130A Lump sums paid on or after 6 April 2024 where entitlement arose before that dateF1F2
The amendments made by or under this Schedule, and the amendments made by section 14, are to be disregarded for the purposes of determining—
the extent (if any) to which a transitional lump sum is a lump sum of a description permitted to be paid by the lump sum rule in section 166(1) of FA 2004, and
the tax treatment under Part 9 of ITEPA 2003 of a transitional lump sum.
In this paragraph “transitional lump sum” means a lump sum to which a member of a registered pension scheme becomes entitled before 6 April 2024 and which is paid on or after that date.
In sub-paragraph (2) “member” has the same meaning as in Part 4 of FA 2004.
Annotations
Textual amendments
- F1
Sch. 9 para. 130A and cross-heading inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 4(21)
- F2
Sch. 9 para. 130A substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 17(9)
Notes on Part 6
Modifications
- C1
Sch. 9 Pt. 6 modified (for the tax year 2024-25 and subsequent tax years) by S.I. 2010/1187, reg. 19(2)-(5) (as substituted by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2026 (S.I. 2026/698), regs. 1(2)(6), 15(5))