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SCHEDULES

SCHEDULE 6U.K. Retirement Benefits Schemes

Part IU.K. Amendments of Taxes Act

AmendmentsU.K.

11(1)Section 599 (charge to tax: commutation of entire pension in specialcircumstances) shall be amended as follows.U.K.

(2)In subsection (2)(b) the word “relevant” shall be inserted before thewords “statutory scheme”.

(3)After subsection (9) there shall be inserted—

(10)In subsection (1)(a) above “the permitted maximum” means, as regards a charge to taxarising under this section in a particular year of assessment, the figurefound for that year by virtue of subsections (11) and (12) below.

(11)For the years 1988-89 and l989-90 the figure is £60,000.

(12)For any subsequent year of assessment the figure is the figure found forthat year, for the purposes of section 590C, by virtue of section 590C(4) and(5).