# Taxation of Pensions Act 2014, Section 2: Restriction and reduction of tax charges on certain lump sums

Extent: E+W+S+N.I.

(1) Chapter 5 of Part 4 of FA 2004 (registered pension schemes: tax charges) is amended as follows.
(2) In section 206(1) (special lump sum death benefits charge arises where certain lump sums are paid by a registered pension scheme) after “registered pension scheme” insert “ in respect of a member who had reached the age of 75 at the date of the member's death ”.
(3) In section 206(4) (special lump sum death benefits charge: rate of charge) for “55%” substitute “ 45% ”.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) The amendments made by this section apply to lump sums paid on or after 6 April 2015.

---
Source: https://www.legislation.gov.uk/ukpga/2014/30/section/2 (the official version)
Page: https://openlegislation.uk/taxation-of-pensions-act-2014/section-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.