The MPs’, Senedd and Assembly Pension Schemes (Tax) Regulations 2025
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Change 1
9 Redress for annual allowance charge: tax year of rectification exercise
(1) This regulation applies where a tax redress payment is made in respect of a member’s liability to an annual allowance charge for the tax year in which a rectification exercise that affects the member takes place. (2) The qualifying amount is— (a) the amount of any annual allowance charges paid by the member in respect of the tax years in the period beginning with 2015-16 and ending with the tax year in which the rectification exercise takes place, less (b) the amount of any annual allowance charges to which the member would have been liable for those tax years if the rectification exercise had been retrospective. (3) If a payment is made that falls within regulation 8, the tax year to which that payment relates is not to be taken into account, in relation to the same scheme, for the purposes of paragraph (2). (4) For the purposes of paragraph (2)(a), an amount does not count as having been paid by the member if it was paid by a scheme administrator— (a) in accordance with a notice under section 237B(3) of FA 2004, or (b) by agreement with the member.
9 Redress for annual allowance charge: tax year of rectification exercise
(1) This regulation applies where a tax redress payment is made in respect of a member’s liability to an annual allowance charge for the tax year in which a rectification exercise that affects the member takes place. (2) The qualifying amount is— (a) the amount of any annual allowance charges paid by the member in respect of the tax years in the period beginning with 2015-16 and ending with the tax year in which the rectification exercise takes place, less (b) the amount of any annual allowance charges to which the member would have been liable for those tax years if the rectification exercise had been retrospective. (3) If a payment is made that falls within regulation 8, the tax year to which that payment relates is not to be taken into account, in relation to the same scheme, for the purposes of paragraph (2). (4) For the purposes of paragraph (2)(a), an amount does not count as having been paid by the member if it was paid by a scheme administrator— (a) in accordance with a notice under section 237B(3) of FA 2004, or (b) by agreement with the member.
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