Point in time view as at 06/04/2020.
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 6.
6U.K.After Chapter 5 insert—
(1)This section applies to any pension under a registered pension scheme (but subject to subsection (2)).
(2)This section does not apply to a pension under a registered pension scheme if and to the extent that, when it is paid, a liability to the unauthorised payments charge arises in respect of the amount of the payment (see section 208 of FA 2004).
If section 579A applies, the taxable pension income for a tax year is the full amount of the pension under the registered pension scheme that accrues in that year irrespective of when any amount is actually paid.
If section 579A applies, the person liable for any tax charged under this Part is the person receiving or entitled to the pension under the registered pension scheme.
In this Chapter “pension under a registered pension scheme” includes—
(a)an annuity under, or purchased with sums or assets held for the purposes of, or representing acquired rights under, a registered pension scheme, and
(b)income withdrawal or dependants' income withdrawal under a registered pension scheme.
In paragraph (b) “income withdrawal”and “dependants' income withdrawal”have the meaning given by paragraphs 7 and 21 of Schedule 28 to FA 2004.”
Commencement Information
I1Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284
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