New section 213P Power to make regulations about charge
79.New section 213P provides a power to make regulations about the high income excess relief charge, including modifications to new sections 213A to 213O. Any regulations made under this section may not increase anyone’s liability to tax.
80.Paragraph 3 of the Schedule amends section 282 of FA 2004 to provide that the first regulations under new section 213L are to be laid under the affirmative resolution procedure.
81.Paragraph 4 of the Schedule amends Schedule 34 to FA 2004 by inserting a new paragraph 7B as set out below.
82.New paragraph 7B(1) and (2) provide regulation-making powers to the Commissioners for HM Revenue and Customs to modify the provisions of FA 2004, as they are amended by this Schedule, in relation to members of currently-relieved non-UK pension schemes.
83.Paragraph 5 of the Schedule provides that it shall have effect for the tax year 2011-12 and onwards.