The Finance Act 2021, Schedule 5 (Pension Schemes: Collective Money Purchase Benefits) (Appointed Day) Regulations 2022
S.I. 2022/874 · Made 26 July 2022
Income Tax
Made 26th July 2022
The Treasury make these Regulations in exercise of the power conferred by paragraph 25 of Schedule 5 to the Finance Act 2021f1.
Annotations to the whole text
Footnotes
- f1
Contents
1Citation
These Regulations may be cited as the Finance Act 2021, Schedule 5 (Pension Schemes: Collective Money Purchase Benefits) (Appointed Day) Regulations 2022.
2Appointed Day
1st August 2022 is appointed as the day on which the amendments made by Schedule 5 to the Finance Act 2021 come into force.
Signature
Scott Mann
Craig Whittaker
Two of the Lords Commissioners of Her Majesty’s Treasury
26th July 2022
Explanatory note
(This note is not part of the Regulations)
These Regulations provide that the appointed day for the amendments made by Schedule 5 to the Finance Act 2021 to come into force is 1st August 2022.
Schedule 5 to the Finance Act 2021 amends Part 4 of the Finance Act 2004 (c. 12) to provide for the tax treatment of collective money purchase arrangements and benefits, a new type of pension provision introduced by Parts 1 and 2 of the Pension Schemes Act 2021 (c. 1).
A Tax Information and Impact Note has not been prepared for these Regulations as they give effect to previously announced policy and are appointed day regulations.