Regulation 7 Income tax and authorised member payments

No liability to income tax arises in respect of the qualifying amount of a tax redress payment^f1.

Where a tax redress payment is made by a relevant pension scheme, the qualifying amount of that payment is to be treated as falling within section 164(1) of FA 2004.

In this regulation, the “qualifying amount” of a tax redress payment means an amount that is specified as such in the following provisions of this Part.