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Regulation 5 Application of relevant ... allowance provisionsF12I1

United Kingdom

(1)

The relevant F1... allowance provisions apply in relation to assistance from the FAS as they apply in relation to benefits that are provided under a registered pension scheme.

(2)

For the purposes of the relevant F2... allowance provisions, unless the context requires otherwise—

(a)

a qualifying member is to be treated as if that qualifying member were a member of a registered pension scheme; and

(b)

the FAS is to be treated as if it were a registered pension scheme and the FAS scheme manager is to be treated as its scheme administrator.

(3)

Subject to regulations F37 to 11 of these Regulations, the relevant F4... allowance provisions are—

F5(za)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(a)

F6section 263 of the FA 2004 (F7... penalty in relation to relevant benefit accrual);

(b)

Part 2 of Schedule 36 to the FA 2004 F8(transitional provision and saving: pre-commencement rights: enhancement of allowances etc); and

F9(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d)

enhanced F10... allowance regulations.

(4)

“Enhanced F11... allowance regulations” has the meaning given by section 256(2) of the FA 2004 (enhanced ... allowance regulations).

Annotations

Textual amendments

F1

Word in reg. 5(1) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(7)

F2

Word in reg. 5(2) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(8)

F3

Word in reg. 5(3) 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), 27(9)(a)(i)

F4

Word in reg. 5(3) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(a)(ii)

F5

Reg. 5(3)(za) omitted (25.6.2026 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2026 (S.I. 2026/698), regs. 1(2)(6), 15(3)

F6

Word in reg. 5(3)(a) 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), 27(9)(c)(i)

F7

Words in reg. 5(3)(a) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(c)(ii)

F8

Words in reg. 5(3)(b) 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), 27(9)(d)

F9

Reg. 5(3)(c) and word omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(e)

F10

Word in reg. 5(3)(d) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(f)

F11

Word in reg. 5(4) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(g)

F12

Word in reg. 5 heading omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(6)

Commencement

I1

Reg. 5 in force at 1.5.2010, see reg. 1(1)

Notes on Part 3

Textual amendments

F1

Pt. 3 heading 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), 27(4)