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Paragraph 604

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amend section 7 (charge to income tax on social security pension lump sum) as follows.

(2)

In subsection (5) for “total income” in each place substitute “ Step 3 income ”.

(3)

At the end insert—

“(9)

For the purposes of this section P's “Step 3 income” means P's net income less allowances deducted at Step 3 of the calculation in section 23 of ITA 2007 (calculation of income tax liability).”