Regulation 2 Chapter 15A of Part 9 of ITEPA 2003

In Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes)^f1, in section 637G (trivial commutation lump sums and winding-up lump sums), in subsection (2), after “the amount of the taxable pension income” insert “—

“(a)

if all the member’s rights under the pension scheme are uncrystallised rights, is 75% of the lump sum, and

(b)

otherwise,”.