(1)In section 14 of the [1973 c. 51.] Finance Act 1973 and section 189 of the Taxes Act 1988 (lump sum benefits paid on retirement not chargeable to income tax under Schedule E), for the words “on his retirement from an office or employment” there shall be substituted the words “(whether on his retirement from an office or employment or otherwise)”.
(2)The amendments made by this section shall be deemed always to have had effect.