Section 613 Taxable pension income: foreign annuities

United Kingdom

(1)

The taxable pension income for an annuity to which section 609, 610 or 611 applies is determined in accordance with this section if the annuity arises from a source outside the United Kingdom.

(2)

The taxable pension income for a tax year is F1the full amount of the annuity arising in the tax year, but subject to F2subsection (4).

F3(3)

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

(4)

The annuity is treated as relevant foreign income for the purposes of Chapters 2 and 3 of Part 8 of F4ITTOIA 2005 (relevant foreign income: remittance basis and deductions and reliefs).

(5)

But if the annuity arises in the Republic of Ireland, section 839 of that Act (annual payments payable out of relevant foreign income) applies with the omission of F5conditions B1 and B2 (and the reference to them in subsection (1)) and subsection (5)(a).

(6)

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

Annotations

Textual amendments

F1: Words in s. 613(2) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 607(2) (with Sch. 2)
F2: Word in s. 613(2) substituted (with effect in accordance with Sch. 3 para. 2(6) of the amending Act) by Finance Act 2017 (c. 10), Sch. 3 para. 2(4)(b)(i)
F3: S. 613(3)-(6) substituted for s. 613(3)(4) (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 607(3) (with Sch. 2)
F4: Words in s. 613(4) substituted (with effect in accordance with Sch. 3 para. 2(6) of the amending Act) by Finance Act 2017 (c. 10), Sch. 3 para. 2(4)(b)(ii)
F5: Words in s. 613(5) substituted (with effect in accordance with Sch. 3 para. 2(6) of the amending Act) by Finance Act 2017 (c. 10), Sch. 3 para. 2(5)

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