Income and Corporation Taxes Act 1988

PART XIV U.K. PENSION SCHEMES, SOCIAL SECURITY BENEFITS, LIFE ANNUITIES ETC.

CHAPTER I U.K. RETIREMENT BENEFIT SCHEMES

Modifications etc. (not altering text)

C1 Pt. 14 Ch. 1 (ss. 590-612) modified (31.3.1995) by Judicial Pensions and Retirement Act 1993 (c. 8), ss. 18, 19(4), 31(2); S.I. 1995/631, art. 2

Approval of schemes U.K.

590 Conditions for approval of retirement benefit schemes. U.K.

F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F2 590A Section 590: supplementary provisions. U.K.

F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F2 Ss. 590A-590C inserted by Finance Act 1989 (c. 26), s. 75, Sch. 6 paras. 4, 18(4)

F3 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F4 590B Section 590: further supplementary provisions. U.K.

F5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F4 Ss. 590A-590C inserted by Finance Act 1989 (c. 26), s. 75, Sch. 6 paras. 4, 18(4)

F5 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F6 590C Earnings cap. U.K.

F7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F6 Ss. 590A-590C inserted by Finance Act 1989 (c. 26), s. 75, Sch. 6 paras. 4, 18(4)

F7 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

591 Discretionary approval. U.K.

F8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F8 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F9 591A Effect on approved schemes of regulations under section 591. U.K.

F10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F9 S. 591A inserted by Finance Act 1991 (c. 31), s.35

F10 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F11 591B Cessation of approval: general provisions. U.K.

F12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F11 S. 591B inserted (retrospectively) by Finance Act 1991 (c. 31), s. 36(1)(3)

F12 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F13 591C Cessation of approval: tax on certain schemes. U.K.

F14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13 Ss. 591C, 591D inserted (with effect in accordance with s. 61(3) of the amending Act) by Finance Act 1995 (c. 4), s. 61(1)

F14 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

591D Section 591C: supplementary. U.K.

F15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F13 Ss. 591C, 591D inserted (with effect in accordance with s. 61(3) of the amending Act) by Finance Act 1995 (c. 4), s. 61(1)

F15 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Tax reliefs U.K.

592 Exempt approved schemes. U.K.

F16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F16 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

593 Relief by way of deductions from contributions. U.K.

F17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

594 Exempt statutory schemes. U.K.

F18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F18 Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Charge to tax in certain cases U.K.

595 Charge to tax in respect of certain sums paid by employer etc. U.K.

F19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F19 Ss. 595, 596 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 74, Sch. 8 Pt. 1 (with Sch. 7)

596 Exceptions from section 595. U.K.

F20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F20 Ss. 595, 596 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 74, Sch. 8 Pt. 1 (with Sch. 7)

[F21 596A Charge to tax: benefits under non-approved schemes. U.K.

F22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F21 Ss. 596A, 596B inserted (with effect in accordance with Sch. 6 para. 18(7) of the amending Act) by Finance Act 1989 (c. 26), Sch. 6 para. 9

F22 Ss. 596A-596C repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 75, Sch. 8 Pt. 1 (with Sch. 7)

[F23 596B Section 596A: supplementary provisions. U.K.

F24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F23 Ss. 596A, 596B inserted (with effect in accordance with Sch. 6 para. 18(7) of the amending Act) by Finance Act 1989 (c. 26), Sch. 6 para. 9

F24 Ss. 596A-596C repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 75, Sch. 8 Pt. 1 (with Sch. 7)

[F25 596C Notional interest treated as paid if amount charged in respect of beneficial loan. U.K.

F26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F25 S. 596C inserted (with effect in accordance with s. 93(4) of the amending Act) by Finance Act 1998 (c. 36), s. 93(3)

F26 Ss. 596A-596C repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 75, Sch. 8 Pt. 1 (with Sch. 7)

597 Charge to tax: pensions. U.K.

F27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F27 S. 597 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 76, Sch. 8 Pt. 1 (with Sch. 7)

598 Charge to tax: repayment of employee’s contributions. U.K.

F28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F28 Ss. 598-599A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36) (with savings in S.I. 2006/5072, arts. 1(1), 38)

599 Charge to tax: commutation of entire pension in special circumstances. U.K.

F29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F29 Ss. 598-599A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36) (with savings in S.I. 2006/5072, arts. 1(1), 38)

[F30 599A Charge to tax: payments out of surplus funds. U.K.

F31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F30 S. 599A inserted (with effect in accordance with Sch. 6 para. 18(9) of the amending Act) by Finance Act 1989 (c. 26), Sch. 6 para. 12

F31 Ss. 598-599A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36) (with savings in S.I. 2006/5072, arts. 1(1), 38)

600 Charge to tax: unauthorised payments to or for employees. U.K.

F32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F32 S. 600 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 78, Sch. 8 Pt. 1 (with Sch. 7)

601 Charge to tax: payments to employers. U.K.

F33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F33 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

602 Regulations relating to pension fund surpluses. U.K.

F34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F34 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

603 Reduction of surpluses. U.K.

F35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F35 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Supplementary provisions U.K.

604 Application for approval of a scheme. U.K.

F36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F36 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

605 Information. U.K.

F37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F37 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F38 605A False statements etc. U.K.

F39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F38 S. 605A inserted (with application in accordance with s. 106(2) of the amending Act) by Finance Act 1994 (c. 9), s. 106(1)

F39 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

606 Default of administrator etc. U.K.

F40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F41 606A Recourse to scheme members. U.K.

F42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F41 S. 606A inserted (with effect in accordance with Sch. 15 para. 6(2) of the amending Act) by Finance Act 1998 (c. 36), Sch. 15 para. 6(1)

F42 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

607 Pilots’ benefit fund. U.K.

F43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

608 Superannuation funds approved before 6th April 1980. U.K.

F44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F44 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

609 Schemes approved before 23rd July 1987. U.K.

F45 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F45 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

610 Amendments of schemes. U.K.

F46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F46 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

611 Definition of “retirement benefits scheme”. U.K.

F47 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F47 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F48 611A Definition of relevant statutory scheme. U.K.

F49 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F48 S. 611A inserted (14.3.1989) by Finance Act 1989 (c. 26), Sch. 6 paras. 15, 18(1)

F49 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F50 611AA Definition of the administrator. U.K.

F51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F50 S. 611AA inserted (with application in accordance with s. 103(3) of the amending Act) by Finance Act 1994 (c. 4), s. 103(1)

F51 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

611A Definition of relevant statutory scheme. U.K.

F49 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F48 S. 611A inserted (14.3.1989) by Finance Act 1989 (c. 26), Sch. 6 paras. 15, 18(1)

F49 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

612 Other interpretative provisions, and regulations for purposes of this Chapter. U.K.

F52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F52 Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

CHAPTER II U.K. OTHER PENSION FUNDS AND SOCIAL SECURITY BENEFITS AND CONTRIBUTIONS

613 Parliamentary pension funds. U.K.

[F53 (1) M1 The salary of a Member of the House of Commons shall, for all the purposes of the Income Tax Acts, be treated as reduced by the amounts deducted in pursuance of section 1 of the M2 House of Commons Members’ Fund Act 1939; but a Member shall not by reason of any such deduction be entitled to relief under any other provision of the Income Tax Acts.

(2) In subsection (1) above the reference to salary shall be construed as mentioned in subsection (3) of section 1 of the House of Commons Members’ Fund Act 1939, the reference to amounts deducted includes a reference to amounts required to be set aside under that subsection, and “deduction” shall be construed accordingly.]

(3) F54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) M3 The F55 . . . trustees of—

(a) the House of Commons Members’ Fund established under section 1 of that Act of 1939;

(b) F56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F57 (bb) F56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(c) F56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d) F56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

shall be entitled to exemption from income tax in respect of all income derived from [F58 that Fund] or any investment of [F58 that Fund].

A claim under this subsection shall be made to the Board.

Textual Amendments

F53 S. 613(1)(2) (which were repealed by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 83, Sch. 8 Pt. 1) restored (retrospectively) by Finance Act 2005 (c. 7), Sch. 10 para. 63

F54 S. 613(3) repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 83, Sch. 8 Pt. 1 (with Sch. 7)

F55 Word in s. 613(4) repealed (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 26(a), Sch. 42 Pt. 3, Note (with Sch. 36)

F56 S. 613(4)(b)-(d) repealed (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 26(a), Sch. 42 Pt. 3, Note (with Sch. 36)

F57 S. 613(4)(bb) inserted (with effect in accordance with s. 52(2) of the amending Act) by Finance Act 1999 (c. 16), Sch. 5 para. 4

F58 Words in s. 613(4) substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 26(b) (with Sch. 36)

Marginal Citations

M1 Source-1970 s.211(1), (4)

M2 1939 c. 49.

M3 Source-1970 s.211(2) 1981 s.50(1); PPA 1987 Sch.3 2(1)

614 Exemptions and reliefs in respect of income from investments etc. of certain pension schemes. U.K.

(1) F59 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) M4 Any interest or dividends received by the person in whom is vested any of the Family Pension Funds mentioned in section 273 of the M5 Government of India Act 1935, and having effect as a scheme made under section 2 of the M6 Overseas Pensions Act 1973, on sums forming part of that fund shall be exempt from income tax.

[F60 (2A) The reference in subsection (2) above to interest on sums forming part of a fund include references to any amount which is treated as income by virtue of [F61 Chapter 8 of Part 4 of ITTOIA 2005 (profits from deeply] discounted securities) and derives from any investment forming part of that fund.]

(3) M7 Income derived from investments or deposits of any fund referred to in [F62 section 648, 649, 650 or 651 of ITEPA 2003] shall not be charged to income tax, and any income tax deducted from any such income shall be repaid by the Board to the persons entitled to receive the income.

(4) M8 In respect of income derived from investments or deposits of the Overseas Service Pensions Fund established pursuant to section 7(1) of the M9 Overseas Aid Act 1966, the Board shall give by way of repayment such relief from income tax as is necessary to secure that the income is exempt to the like extent (if any) as if it were income of a person not domiciled, ordinarily resident or resident in the United Kingdom.

(5) M10 In respect of dividends and other income derived from investments, deposits or other property of a superannuation fund to which section 615(3) applies the Board shall give by way of repayment such relief from income tax as is necessary to secure that the income is exempt to the like extent (if any) as if it were income of a person not domiciled, ordinarily resident or resident in the United Kingdom.

(6) M11 A claim under this section shall be made to the Board.

Textual Amendments

F59 S. 614(1) repealed (3.5.1994) by Finance Act 1994 (c. 9), Sch. 26 Pt. 5(22)

F60 S. 614(2A) inserted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 34 (with Sch. 15)

F61 Words in s. 614(2A) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 261 (with Sch. 2)

F62 Words in s. 614(3) substituted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 84 (with Sch. 7)

Marginal Citations

M4 Source-1970 s.213(1)

M5 1935 c. 2.

M6 1973 c. 21.

M7 Source-1970 s.214(2), 216(2); 1973 s.53(1)

M8 Source-1970 s.217(2), (4)

M9 1966 c. 21.

M10 Source-1970 s.218(1)

M11 Source-1970 s.212(3), 213(1), 214(3), 216(2), 217(2), 218(1); 1987 Sch.15 2(13)

615 Exemption from tax in respect of certain pensions. U.K.

(1) F63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) F63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) M12 Where an annuity is paid from a superannuation fund to which this subsection applies to a person who is not resident in the United Kingdom, income tax shall not be deducted from any payment of the annuity or accounted for under [F64 Chapter 6 of Part 15 of ITA 2007 (deduction from annual payments and patent royalties)] by the trustees or other persons having the control of the fund.

(4) F63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) F63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) M13 Subsection (3) above applies to any superannuation fund which—

(a) is bona fide established under irrevocable trusts in connection with some trade or undertaking carried on wholly or partly outside the United Kingdom;

(b) has for its sole purpose [F65 (subject to any enactment or Northern Ireland legislation requiring or allowing provision for the value of any rights to be transferred between schemes or between members of the same scheme)] the provision of superannuation benefits in respect of persons’ employment in the trade or undertaking wholly outside the United Kingdom; and

(c) is recognised by the employer and employed persons in the trade or undertaking;

and for the purposes of this subsection duties performed in the United Kingdom the performance of which is merely incidental to the performance of other duties outside the United Kingdom shall be treated as performed outside the United Kingdom.

(7) M14 In this section—

• “pension” includes a gratuity or any sum payable on or in respect of death or, in the case of a pension falling within subsection (2)(g) above, ill-health, and a return of contributions with or without interest thereon or any other addition thereto;

• “overseas territory” means any territory or country outside the United Kingdom;

• “the Pensions (Increase) Acts” means the M15 Pensions (Increase) Act 1971 and any Act passed after that Act for purposes corresponding to the purposes of that Act;

• “United Kingdom trust territory” means a territory administered by the government of the United Kingdom under the trusteeship system of the United Nations.

(8) F63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F66 (9) For the purposes of this section, a person shall be taken to be employed in the public service of an overseas territory at any time when—

(a) he is employed in any capacity under the government of that territory, or under any municipal or other local authority in it,

(b) he is employed, in circumstances not falling within paragraph (a) above, by a body corporate established for any public purpose in that territory by an enactment of a legislature empowered to make laws for that territory, or

(c) he is the holder of a public office in that territory in circumstances not falling within either paragraph (a) or (b).

(10) For the purposes of subsection (9), references to the government of an overseas territory include references to a government constituted for two or more overseas territories, and to any authority established for the purpose of providing or administering services which are common to, or relate to matters of common interest to, two or more such territories.]

Textual Amendments

F63 S. 615(1)(2)(4)(5)(8) repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 85, Sch. 8 Pt. 1 (with Sch. 7)

F64 Words in s. 615(3) substituted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 140 (with Sch. 2)

F65 Words in s. 615(6)(b) inserted (27.7.1999) by Finance Act 1999 (c. 16), Sch. 10 para. 11

F66 S. 615(9)(10) inserted (17.6.2002) by International Development Act 2002 (c. 1), s. 20(2), Sch. 3 para. 9(3) (with Sch. 5); S.I. 2002/1408, art. 2

Marginal Citations

M12 Source-1970 s.218(3)

M13 Source-1970 s.218(4)

M14 Source-1970 s.214(5), 215(3), 216(4), 217(4)

M15 1971 c. 56.

616 Other overseas pensions. U.K.

F67 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F67 S. 616 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 86, Sch. 8 Pt. 1 (with Sch. 7)

617 Social security benefits and contributions. U.K.

(1) F68 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) F68 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) M16 Subject to [F69 subsections (4) and (5) below], no relief or deduction shall be given or allowed [F70 for corporation tax purposes] in respect of any contribution paid by any person under—

(a) Part I of the Social Security [F71 Contributions and Benefits Act 1992], or

(b) Part I of the Social Security [F72 Contributions and Benefits (Northern Ireland) Act 1992].

[F73 (4) Subsection (3) above shall not apply to a contribution if it is a secondary Class 1 contribution [F74 , a Class 1A contribution or a Class 1B contribution] (within the meaning of Part I of either of those Acts) and is allowable—

(a) as a deduction in computing profits or gains;

(b) as expenses of management deductible under section 75 or [F75 falls to be brought into account under section 76 as expenses payable];[F76 or]

(c) as expenses of management or supervision deductible under section 121;

[F77 (d) F78 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(e) F78 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

[F79 (5) Subsection (3) above shall not apply for the purposes of deductions under Chapter 2 of Part 5 of ITEPA 2003 (in relation to which section 360A of that Act applies).]

(5) F80 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) F81 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F68 S. 617(1)(2) repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 87(2), Sch. 8 Pt. 1 (with Sch. 7)

F69 Words in s. 617(3) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 262(2)(a) (with Sch. 2)

F70 Words in s. 617(3) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 262(2)(b) (with Sch. 2)

F71 Words in s. 617(3)(a) substituted (1.7.1992) by Social Security (Consequential Provisions) Act 1992 (c. 6), ss. 4, 7(2), Sch. 2 para. 93(4)

F72 Words in s. 617(3)(b) substituted (1.7.1992) by Social Security (Consequential Provisions) (Northern Ireland) Act 1992 (c. 9), ss. 4, 7(2), Sch. 2 para. 33(4)

F73 S. 617(4) substituted (with effect in accordance with s. 65(5) of the amending Act) by Finance Act 1997 (c. 16), s. 65(3)

F74 Words in s. 617(4) substituted (with effect in accordance with s. 61(2) of the amending Act) by Finance Act 1999 (c. 16), s. 61(1)

F75 Words in s. 617(4)(b) substituted (28.9.2004 with effect in accordance with art. 1(2) of the amending S.I.) by The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004, Sch. para. 31(2)

F76 Word at the end of s. 617(4)(b) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 262(3)(a) (with Sch. 2)

F77 S. 617(4)(d)(e) substituted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 87(3) (with Sch. 7)

F78 S. 617(4)(d)(e) repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 262(3)(b), Sch. 3 (with Sch. 2)

F79 S. 617(5) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 262(4) (with Sch. 2)

F80 S. 617(5) repealed (with effect in accordance with s. 147(3) of the repealing Act) by Finance Act 1996 (c. 8), s. 147(1), Sch. 41 Pt. 5(15), Note

F81 S. 617(6) repealed (24.4.2000 for specified purposes and 9.4.2001 otherwise) by Welfare Reform and Pensions Act 1999 (c. 30), s. 89(1), Sch. 8 para. 1(3), Sch. 13 Pt. 5; S.I. 2000/1047, art. 2(2)(a), Sch. Pt. 1

Marginal Citations

M16 Source-1970 s.219(3)

[F82 617A Tax credits under Part 1 of Tax Credits Act 2002 U.K.

F83 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F82 S. 617A inserted (prosp.) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 3 para. 14 (the insertion being brought into force at 6.4.2003 by S.I. 2003/962, art. 2(3)(d)(iii))

F83 S. 617A repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 88, Sch. 8 Pt. 1 (with Sch. 7)

CHAPTER III U.K. RETIREMENT ANNUITIES

618 Termination of relief under this Chapter, and transitional provisions. U.K.

F84 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F84 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

619 Exemption from tax in respect of qualifying premiums. U.K.

F85 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F85 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

620 Qualifying premiums. U.K.

F86 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F86 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

621 Other approved contracts. U.K.

F87 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F87 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

622 Substituted retirement annuity contracts. U.K.

F88 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F88 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

623 Relevant earnings. U.K.

F89 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F89 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

624 Sponsored superannuation schemes and controlling directors. U.K.

F90 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F90 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

625 Carry-forward of unused relief under section 619. U.K.

F91 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F91 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

626 Modification of section 619 in relation to persons over 50. U.K.

F92 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F92 Ss. 618-626 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

F93 627 Lloyd’s underwriters. U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F93 S. 627 repealed (with effect as mentioned in s. 228(4) of the repealing Act) by Finance Act 1994 (c. 9), s. 228(2)(a), Sch. 26 Pt. 5(25), Note 1

628 Partnership retirement annuities. U.K.

F94 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F94 S. 628 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

629 Annuity premiums of Ministers and other officers. U.K.

M17 (1) For the purposes of this Chapter so much of any salary which—

(a) is payable to the holder of a qualifying office who is also a Member of the House of Commons, and

(b) is payable for a period in respect of which the holder is not a participant in relation to that office in arrangements contained in the Parliamentary pension scheme but is a participant in relation to his membership of the House of Commons in any such arrangements, or for any part of such a period,

as is equal to the difference between a Member’s pensionable salary and the salary which (in accordance with any such resolution as is mentioned in subsection (3)(a) below) is payable to him as a Member holding that qualifying office shall be treated as remuneration from the office of Member and not from the qualifying office.

(2) In this section—

• “Member’s pensionable salary” means a Member’s ordinary salary under any resolution of the House of Commons which, being framed otherwise than as an expression of opinion, is for the time being in force relating to the remuneration of Members or, if the resolution provides for a Member’s ordinary salary thereunder to be treated for pension purposes as being at a higher rate, a notional yearly salary at that higher rate;

• “qualifying office” means an office mentioned in section 2(2)(b), (c) or (d) of the Parliamentary and other M18 Pensions Act 1987;

• “the Parliamentary pension scheme” has the same meaning as in that Act;

and without prejudice to the power conferred by virtue of paragraph 13 of Schedule 1 to that Act, regulations under section 2 of that Act may make provision specifying the circumstances in which a person is to be regarded for the purposes of this section as being or not being a participant in relation to his Membership of the House of Commons, or in relation to any office, in arrangements contained in the Parliamentary pension scheme.

(3) In subsection (2) above “a Member’s ordinary salary”, in relation to any resolution of the House of Commons, means—

(a) if the resolution provides for salary to be paid to Members at different rates according to whether or not they are holders of particular offices, or are in receipt of salaries or pensions as the holders or former holders of particular offices, a Member’s yearly salary at the higher or highest rate; and

(b) in any other case, a Member’s yearly salary at the rate specified in or determined under the resolution.

Modifications etc. (not altering text)

C2 S. 629 applied (with modifications) (with effect in accordance with s. 52(2) of the affecting Act) by Finance Act 1999 (c. 16), Sch. 5 para. 6

Marginal Citations

M17 Source-1970 s.229

M18 1987 c. 45.

CHAPTER IV U.K. PERSONAL PENSION SCHEMES

Modifications etc. (not altering text)

C3 Pt. 14 Ch. 5 excluded (1.5.1995) by Finance Act 1995 (c. 4), s. 60(5)

Preliminary U.K.

630 Interpretation. U.K.

F95 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F95 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

631 Approval of schemes. U.K.

F96 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F96 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F97 631A Conversion of certain approved retirement benefits schemes. U.K.

F98 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F97 S. 631A inserted (28.7.2000) by Finance Act 2000 (c. 17), Sch. 13 para. 7 (with Sch. 13 Pt. 2)

F98 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Restrictions on approval U.K.

632 Establishment of schemes. U.K.

F99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F99 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F100 632A Eligibility to make contributions. U.K.

F101 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F100 Ss. 632A, 632B inserted (6.4.2001) by Finance Act 2000 (c. 17), Sch. 13 para. 8 (with Sch. 13 Pt. 2)

F101 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

632B Eligibility to make contributions: concurrent membership. U.K.

F102 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F100 Ss. 632A, 632B inserted (6.4.2001) by Finance Act 2000 (c. 17), Sch. 13 para. 8 (with Sch. 13 Pt. 2)

F102 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

633 Scope of benefits. U.K.

F103 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F103 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

634 Annuity to member. U.K.

F104 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F104 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F105 634A Income withdrawals by member. U.K.

F106 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F105 S. 634A inserted (1.5.1995) by Finance Act 1995 (c. 4), Sch. 11 para. 4

F106 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

635 Lump sum to member. U.K.

F107 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F107 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

636 Annuity after death of member. U.K.

F108 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F108 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F109 636A Income withdrawals after death of member. U.K.

F110 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F109 S. 636A inserted (1.5.1995) by Finance Act 1995 (c. 4), Sch. 11 para. 7

F110 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

637 Death benefit. U.K.

F111 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F111 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F112 637A Return of contributions on or after death of member. U.K.

F113 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F112 Ss. 637, 637A substituted for s. 637 (1.5.1995) by Finance Act 1995 (c. 4), Sch. 11 para. 8

F113 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

638 Other restrictions on approval. U.K.

F114 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F114 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F115 638ZA Personal pension arrangements with more than one pension date etc. U.K.

F116 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F115 S. 638ZA inserted (6.4.2001) by Finance Act 2000 (c. 17), Sch. 13 para. 14 (with Sch 13 Pt. 2)

F116 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F117 638A Power to prescribe restrictions on approval. U.K.

F118 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F117 S. 638A inserted (31.7.1998) by Finance Act 1998 (c. 36), s. 94(1)

F118 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Tax reliefs U.K.

639 Member’s contributions. U.K.

F119 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F119 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

640 Maximum amount of deductions. U.K.

F120 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F120 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F121 640A Earnings cap. U.K.

F122 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F121 S. 640A inserted (with effect in accordance with Sch. 7 para. 4(2) of the amending Act) by Finance Act 1989 (c. 26), Sch. 7 para. 4(1)

F122 Ss. 630-640A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

641 Carry-back of contributions. U.K.

F123 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F123 S. 641 repealed (with effect in accordance with Sch. 13 para. 17 of the repealing Act) by Finance Act 2000 (c. 17), Sch. 40 Pt, 2(4), Note 3 (with Sch. 13 Pt. 2)

[F124 641A Election for contributions to be treated as paid in previous year. U.K.

F125 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F124 S. 641A inserted (with effect in accordance with Sch. 13 para. 18(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 13 para. 18(1) (with Sch. 13 Pt. 2)

F125 S. 641A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

642 Carry-forward of relief. U.K.

F126 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F126 S. 642 repealed (with effect in accordance with Sch. 13 para. 19 of the repealing Act) by Finance Act 2000 (c. 17), Sch. 40 Pt, 2(4), Note 4 (with Sch. 13 Pt. 2)

643 Employer’s contributions and personal pension income etc. U.K.

F127 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F127 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

644 Meaning of “relevant earnings”. U.K.

F128 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F128 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

645 Earnings from pensionable employment. U.K.

F129 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F129 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

646 Meaning of “net relevant earnings”. U.K.

F130 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F130 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F131 646A Earnings from associated employments. U.K.

F132 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F131 S. 646A inserted (with effect in accordance with Sch. 7 para. 8(2) of the amending Act) by Finance Act 1989 (c. 26), Sch. 7 para. 8(1)

F132 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F133 646B Presumption of same level of relevant earnings etc for 5 years. U.K.

F134 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F133 Ss. 646B, 646C inserted (with effect in accordance with Sch. 13 para. 22(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 13 para. 22(1) (with Sch. 13 Pt. 2)

F134 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

646C Provisions supplementary to section 646B. U.K.

F135 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F133 Ss. 646B, 646C inserted (with effect in accordance with Sch. 13 para. 22(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 13 para. 22(1) (with Sch. 13 Pt. 2)

F135 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F136 646D Higher level contributions after cessation of actual relevant earnings: modification of section 646B. U.K.

F137 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F136 S. 646D inserted (with effect in accordance with Sch. 13 para. 23(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 13 para. 23(1) (with Sch. 13 Pt. 2)

F137 Ss. 643-646D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Charge to tax U.K.

647 Unauthorised payments. U.K.

F138 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F138 Ss. 647-648A repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 96, Sch. 8 Pt. 1 (with Sch. 7)

648 Contributions under unapproved arrangements. U.K.

F139 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F139 Ss. 647-648A repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 96, Sch. 8 Pt. 1 (with Sch. 7)

U.K.

[F140 F141 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F140 S. 648A and preceding cross-heading inserted (with application in accordance with s. 109(2) of the amending Act) by Finance Act 1994 (c. 9), s. 109(1)

F141 Cross-heading preceding s. 648A omitted (1.5.1995) by virtue of Finance Act 1995 (c. 4), Sch. 11 para. 12

648A Annuities: charge under Schedule E. U.K.

F142 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F140 S. 648A and preceding cross-heading inserted (with application in accordance with s. 109(2) of the amending Act) by Finance Act 1994 (c. 9), s. 109(1)

F142 Ss. 647-648A repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 96, Sch. 8 Pt. 1 (with Sch. 7)

[F143 648B Return of contributions after pension date. U.K.

F144 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F140 S. 648A and preceding cross-heading inserted (with application in accordance with s. 109(2) of the amending Act) by Finance Act 1994 (c. 9), s. 109(1)

F143 S. 648B inserted (1.5.1995) by Finance Act 1995 (c. 4), Sch. 11 para. 12

F144 Ss. 648B-651A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

Miscellaneous U.K.

649 Minimum contributions under Social Security Act 1986. U.K.

F145 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F145 Ss. 648B-651A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

650 Withdrawal of approval. U.K.

F146 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F146 Ss. 648B-651A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F147 650A Charge on withdrawal of approval from arrangements. U.K.

F148 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F147 S. 650A inserted (with effect in accordance with s. 95(4) of the amending Act) by Finance Act 1998 (c. 36), s. 95(1)

F148 Ss. 648B-651A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

651 Appeals. U.K.

F149 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F149 Ss. 648B-651A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F150 651A Information powers. U.K.

F151 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F150 S. 651A inserted (31.7.1998) by Finance Act 1998 (c. 36), s. 96(1)

F151 Ss. 648B-651A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

652 Information about payments. U.K.

F152 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F152 S. 652 repealed (1.10.2000) by Finance Act 1998 (c. 36), s. 96(4), Sch. 27 Pt. 3(21), Note; S.I. 2000/2319, art. 2

653 Information: penalties. U.K.

F153 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F153 Ss. 653-655 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F154 653A Notices to be given to scheme administrator. U.K.

F155 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F154 S. 653A inserted (with effect in accordance with s. 97(2) of the amending Act) by Finance Act 1998 (c. 36), s. 97(1)

F155 Ss. 653-655 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

654 Remuneration of Ministers and other officers. U.K.

F156 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F156 Ss. 653-655 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

655 Transitional provisions. U.K.

F157 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F157 Ss. 653-655 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

CHAPTER V U.K. PURCHASED LIFE ANNUITIES

656 Purchased life annuities other than retirement annuities. U.K.

F158 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F158 Ss. 656-658 omitted (with effect in accordance with Sch. 14 para. 18(1) of the repealing Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 8

657 Purchased life annuities to which section 656 applies. U.K.

F159 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F159 Ss. 656-658 omitted (with effect in accordance with Sch. 14 para. 18(1) of the repealing Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 8

658 Supplementary. U.K.

F160 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F160 Ss. 656-658 omitted (with effect in accordance with Sch. 14 para. 18(1) of the repealing Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 8

CHAPTER VI U.K. MISCELLANEOUS

[F161 658A Charges and assessments on administrators. U.K.

F162 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F161 S. 658A inserted (retrospectively) by Finance Act 1998 (c. 36), s. 98(1)

F162 S. 658A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

F163 659 Financial futures and traded options. U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F163 S. 659 repealed (with effect in accordance with s. 81(7)(8) of the repealing Act) by Finance Act 1990 (c. 29), s. 81(4), Sch. 19 Pt. 4, Note 9

[F164 659A Futures and options. U.K.

(1) For the purposes of sections F165 . . . 613(4), 614(3) and (4) F165 . . . —

(a) “investments” (or “investment”) includes futures contracts and options contracts, and

(b) income derived from transactions relating to such contracts shall be regarded as income derived from (or income from) such contracts.

F165 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) For the purposes of subsection (1) above a contract is not prevented from being a futures contract or an options contract by the fact that any party is or may be entitled to receive or liable to make, or entitled to receive and liable to make, only a payment of a sum (as opposed to a transfer of assets other than money) in full settlement of all obligations.]

Textual Amendments

F164 S. 659A inserted (with effect in accordance with s. 81(5) of the amending Act) by Finance Act 1990 (c. 29), s. 81(2)

F165 Words in s. 659A(1) repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F166 659B Definition of insurance company. U.K.

F167 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F166 Ss. 659B, 659C inserted (with effect in accordance with s. 60 of the amending Act) by Finance Act 1995 (c. 4), s. 59(5)

F167 Ss. 659B-659D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

659C Effect of appointment or arrangements under section 659B. U.K.

F168 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F166 Ss. 659B, 659C inserted (with effect in accordance with s. 60 of the amending Act) by Finance Act 1995 (c. 4), s. 59(5)

F168 Ss. 659B-659D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F169 659D Interpretation of provisions about pension sharing. U.K.

F170 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F169 S. 659D inserted (27.7.1999) by Finance Act 1999 (c. 16), Sch. 10 para. 17

F170 Ss. 659B-659D repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)

[F171 659E Treatment of income from property investment LLPs U.K.

(1) The exemptions specified below do not apply to income derived from investments, deposits or other property held as a member of a property investment LLP [F172 (see section 1004 of ITA 2007)].

(2) The exemptions are those provided by—

• F173 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• F173 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• section 613(4) (Parliamentary pension funds),

• section 614(3) (certain colonial, &c. pension funds),

• section 614(4) (the Overseas Service Pension Fund),

• section 614(5) (other pension funds for overseas employees),

• F173 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• F173 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) The income to which subsection (1) above applies includes relevant stock lending fees, in relation to any investments, to which any of the provisions listed in subsection (2) above would apply by virtue of section 129B.

(4) Section 659A (treatment of futures and options) applies for the purposes of subsection (1) above.]

Textual Amendments

F171 S. 659E inserted (6.4.2001) by Finance Act 2001 (c. 9), s. 76(2), Sch. 25 para. 2

F172 Words in s. 659E(1) inserted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 143 (with Sch. 2)

F173 S. 659E(2): entries repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)