Regulation 11 The Taxation of Pension Schemes (Transitional Provisions) Order 2006

(1)

The Taxation of Pension Schemes (Transitional Provisions) Order 2006^f1 is amended as follows.

(2)

In article 25CA (circumstance A: tax treatment of stand-alone lump sums), in paragraph (1)—

(a)

for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(b)

after “pension scheme” insert “to whom a stand-alone lump sum is paid”.

(3)

In article 25CB (circumstance B: tax treatment of stand-alone lump sums), in paragraph (1)—

(a)

for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(b)

after “pension scheme” insert “to whom a stand-alone lump sum is paid”.

(4)

In article 25CC (circumstance C: tax treatment of stand-alone lump sums)—

(a)

in paragraph (1)—

(i)

for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(ii)

after “pension scheme” insert “to whom a stand-alone lump sum is paid”;

(b)

in paragraph (5), after “death benefit allowance)” insert “has effect as if”.

Annotations

f1: S.I. 2006/572. Articles 25CA, 25CB and 25CC were added by paragraph 95 of Schedule 9 to FA 2024.