Regulation 16 Fraud compensation payments and other related payments

(1)

Receipt of a payment to which this regulation applies shall not be regarded as a disposal of an asset for the purposes of capital gains tax or for the purposes of corporation tax on chargeable gains.

(2)

This regulation applies to—

(a)

a fraud compensation payment under section 185 of the Pensions Act;

(b)

an interim payment under section 186 of the Pensions Act;

(c)

a fraud compensation payment under Article 168 of the 2005 Order;

(d)

an interim payment under Article 169 of the 2005 Order;

(e)

a payment made by the Board of the Pension Protection Fund under section 83 of the Pensions Act 1995^f1;

(f)

a payment in anticipation made by the Board of the Pension Protection Fund under section 84 of that Act;

(g)

a payment made by the Board of the Pension Protection Fund under Article 81 of the Pensions (Northern Ireland) Order 1995^f2;

(h)

a payment in anticipation made by the Board of the Pension Protection Fund under Article 82 of that Order.

Annotations

Footnotes

f1: 1995 c. 26.
f2: S.I. 1995/3213 (N.I. 22).