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Regulation 4 Prescribed payments and taxation

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A payment by a registered pension scheme that is described in Part 3 of these Regulations, to the extent specified in the regulation concerned—

(a)

is a payment of a prescribed description for the purposes of section 164(1)(f) of the Finance Act 2004;

(b)

shall be treated as pension paid to the recipient under a registered pension scheme for the purposes of Part 9 of ITEPA 2003; and

(c)

shall be treated for those purposes as pension accruing in the tax year in which it is paid.