Pension Schemes Act 2026
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Change 1
117 Taxation
(1) The Treasury may by regulations make provision for varying the way in which any relevant tax would, apart from the regulations, have effect in relation to— (a) a new public scheme; (b) members of a new public scheme; (c) persons who have survived a member of a new public scheme and who have an entitlement to benefits, or a right to future benefits, under the scheme in respect of the member; (d) a person within section 116(1)(a), (b) or (c). (2) Regulations under subsection (1) may include provision for treating a new public scheme as a registered pension scheme. (3) The Treasury may by regulations make provision for varying the way in which any relevant tax would, apart from the regulations, have effect in relation to, or in connection with, anything done by or under, or in consequence of, regulations made under this Chapter in relation to— (a) the AWE Pension Scheme; (b) the trustee company; (c) AWE PLC; (d) the Secretary of State; (e) a qualifying person; (f) a person who has survived a qualifying person and who has an entitlement to benefits, or a right to future benefits, under the scheme in respect of the qualifying person. (4) Regulations under subsection (1) or (3) may include provision for any of the following— (a) a tax provision not to apply or to apply with modifications; (b) anything done to have or not to have a specified consequence for the purposes of a tax provision; (c) the withdrawal of relief and the charging of a relevant tax. (5) Provision made by regulations under subsection (1) or (3), other than provision withdrawing a relief or charging a relevant tax, may make retrospective provision. (6) In this section— “relevant tax” means— income tax; capital gains tax; corporation tax; inheritance tax; stamp duty and stamp duty reserve tax; stamp duty land tax; “registered pension scheme” has the meaning given in Part 4 of the Finance Act 2004; “tax provision” means any provision made by or under an enactment relating to a relevant tax.
117 Taxation
(1) The Treasury may by regulations make provision for varying the way in which any relevant tax would, apart from the regulations, have effect in relation to— (a) a new public scheme; (b) members of a new public scheme; (c) persons who have survived a member of a new public scheme and who have an entitlement to benefits, or a right to future benefits, under the scheme in respect of the member; (d) a person within section 116(1)(a), (b) or (c). (2) Regulations under subsection (1) may include provision for treating a new public scheme as a registered pension scheme. (3) The Treasury may by regulations make provision for varying the way in which any relevant tax would, apart from the regulations, have effect in relation to, or in connection with, anything done by or under, or in consequence of, regulations made under this Chapter in relation to— (a) the AWE Pension Scheme; (b) the trustee company; (c) AWE PLC; (d) the Secretary of State; (e) a qualifying person; (f) a person who has survived a qualifying person and who has an entitlement to benefits, or a right to future benefits, under the scheme in respect of the qualifying person. (4) Regulations under subsection (1) or (3) may include provision for any of the following— (a) a tax provision not to apply or to apply with modifications; (b) anything done to have or not to have a specified consequence for the purposes of a tax provision; (c) the withdrawal of relief and the charging of a relevant tax. (5) Provision made by regulations under subsection (1) or (3), other than provision withdrawing a relief or charging a relevant tax, may make retrospective provision. (6) In this section— “relevant tax” means— income tax; capital gains tax; corporation tax; inheritance tax; stamp duty and stamp duty reserve tax; stamp duty land tax; “registered pension scheme” has the meaning given in Part 4 of the Finance Act 2004; “tax provision” means any provision made by or under an enactment relating to a relevant tax.
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