Section 575 Taxable pension income

United Kingdom

(1)

If section 573 applies, the taxable pension income for a tax year is F1the full amount of the pension income arising in the tax year, but subject to subsections F2(1A) ... and (3) F3and section 576A.

F4(1A)

If the person liable for the tax under this Part is an individual and the tax year is a split year as respects that individual, the taxable pension income for the tax year is the full amount of the pension income arising in the UK part of the year, subject to F5subsection (3) and section 576A.

F6(2)

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

(3)

F7The full amount of the pension income arising in the tax year, or (as the case may be) the UK part of the tax year, is treated as relevant foreign income for the purposes of Chapters 2 and 3 of Part 8 of F8ITTOIA 2005 (relevant foreign income: remittance basis and deductions and reliefs).

(4)

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

(5)

See also Chapter 4 of that Part (unremittable income).

Annotations

Textual amendments

F1: Words in s. 575(1) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 606(2) (with Sch. 2)
F2: Word in s. 575(1) inserted (with effect in accordance with Sch. 45 para. 153(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 45 para. 72(2)
F3: Words in s. 575(1) inserted (with effect in accordance with Sch. 16 para. 85 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 21(3)
F4: S. 575(1A) inserted (with effect in accordance with Sch. 45 para. 153(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 45 para. 72(3)
F5: Word in s. 575(1A) substituted (with effect in accordance with Sch. 3 para. 2(6)(7) of the amending Act) by Finance Act 2017 (c. 10), Sch. 3 para. 2(4)(a)(ii)
F6: S. 575(2)-(5) substituted for s. 575(2) (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 606(3) (with Sch. 2)
F7: Words in s. 575(3) substituted (with effect in accordance with Sch. 3 para. 2(6)(7) of the amending Act) by Finance Act 2017 (c. 10), Sch. 3 para. 2(4)(a)(iii)
F8: Words in s. 575(3) substituted (with effect in accordance with Sch. 3 para. 2(6)(7) of the amending Act) by Finance Act 2017 (c. 10), Sch. 3 para. 2(4)(a)(iv)

Notes on Part 9

Modifications

C1: Pt. 9: power to amend conferred (17.12.2014) by Taxation of Pensions Act 2014 (c. 30), s. 4(3)
C2: Pt. 9 excluded by 2004 c. 12, Sch. 36 para. 45A(1) (as inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 4 para. 19)
C3: Pt. 9 modified (6.4.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023 (S.I. 2023/113), regs. 1(2), 23(2), 24(2), 26(2), 28(2) (with reg. 1(3))
C4: Pt. 9 modified (14.9.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (S.I. 2023/912), regs. 1(2), 9(2), 11(2), 16(2) (with reg. 1(3))
C5: Pt. 9 modified (31.10.2023) by The Registered Pension Schemes (Authorised Member Payments) Regulations 2023 (S.I. 2023/1012), regs. 1, 4
C6: Pt. 9 modified (for the tax year 2024-25 and subsequent tax years) by S.I. 2009/1171, reg. 5ZA (as inserted by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024 (S.I. 2024/1167), regs. 1(2)(3), 5(3) (with reg. 6))
C7: Pt. 9 modified (13.2.2025 with effect in relation to the tax year 2024-25 and subsequent tax years) by The MPs’, Senedd and Assembly Pension Schemes (Tax) Regulations 2025 (S.I. 2025/52), regs. 1(2)(3), 4, 6, 7
C8: Pt. 9 modified (14.7.2026 for the tax year 2014-15 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2026 (S.I. 2026/673), regs. 1(2)(5), 12

Notes on Chapter 4

Modifications

C1: Pt. 9 modified (for the tax year 2024-25 and subsequent tax years) by S.I. 2009/1171, reg. 5ZA (as inserted by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 3) Regulations 2024 (S.I. 2024/1167), regs. 1(2)(3), 5(3) (with reg. 6))