Regulation 14 Amendment of regulation 2.J.8

Regulation 2.J.8 (deduction of tax)^f1 is amended as follows.

In paragraph (2)(a), after “benefit crystallisation event” insert “occurring on or before 6th April 2024,”.

After paragraph (2) insert —

“(2A)

If a person becomes entitled to a lump sum under this Part which is a relevant benefit crystallisation event, occurring on or after 6th April 2024, for the purposes of section 637Q or section 637S of the Income Tax (Earnings and Pensions) Act 2003^f2, the Scheme administrator shall determine—

(a)

whether any tax is payable in respect of the lump sum in accordance with section 204 of the 2004 Act, and if so,

(b)

the amount of tax payable, and

(c)

the person liable for that tax.”.