The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024
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Change 1
11 The Taxation of Pension Schemes (Transitional Provisions) Order 2006
(1) The Taxation of Pension Schemes (Transitional Provisions) Order 2006 is amended as follows. (2) In article 25CA (circumstance A: tax treatment of stand-alone lump sums), in paragraph (1)— (a) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”; (b) after “pension scheme” insert “to whom a stand-alone lump sum is paid”. (3) In article 25CB (circumstance B: tax treatment of stand-alone lump sums), in paragraph (1)— (a) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”; (b) after “pension scheme” insert “to whom a stand-alone lump sum is paid”. (4) In article 25CC (circumstance C: tax treatment of stand-alone lump sums)— (a) in paragraph (1)— (i) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”; (ii) after “pension scheme” insert “to whom a stand-alone lump sum is paid”; (b) in paragraph (5), after “death benefit allowance)” insert “has effect as if”.
11 The Taxation of Pension Schemes (Transitional Provisions) Order 2006
(1) The Taxation of Pension Schemes (Transitional Provisions) Order 2006 is amended as follows. (2) In article 25CA (circumstance A: tax treatment of stand-alone lump sums), in paragraph (1)— (a) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”; (b) after “pension scheme” insert “to whom a stand-alone lump sum is paid”. (3) In article 25CB (circumstance B: tax treatment of stand-alone lump sums), in paragraph (1)— (a) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”; (b) after “pension scheme” insert “to whom a stand-alone lump sum is paid”. (4) In article 25CC (circumstance C: tax treatment of stand-alone lump sums)— (a) in paragraph (1)— (i) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”; (ii) after “pension scheme” insert “to whom a stand-alone lump sum is paid”; (b) in paragraph (5), after “death benefit allowance)” insert “has effect as if”.
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