Finance Act 2024

Amendments of Part 4 of FA 2004

100 (1) Section 256 (enhanced lifetime allowance regulations) is amended as follows.

(2) In the heading omit “lifetime”.

(3) In subsection (1)—

(a) omit paragraphs (a) to (c);

(b) in paragraph (d), for “lifetime allowance enhancement” substitute “enhancement of allowances”;

(c) in paragraph (e)—

(i) omit “lifetime allowance”;

(ii) omit the “and” at the end;

(d) in paragraph (f)—

(i) for “paragraph 18(6)” substitute “paragraph 18(1)(b)”;

(ii) for “lifetime allowance enhancement” substitute “enhancement of allowances”;

(e) after paragraph (f) insert—

“(g) paragraph 20A(1)(d) of that Schedule (enhancement factor: pension credits from previously crystallised rights),

(h) paragraph 20B(1)(b) of that Schedule (enhancement factor: non-residence), and

(i) paragraph 20E(1)(b) of that Schedule (enhancement factor: transfers from recognised overseas pension scheme).”

(4) In subsection (2) omit “lifetime”.

(5) In subsection (3)—

(a) in the words before paragraph (a) omit “lifetime”;

(b) omit paragraph (a).

(6) In subsection (4), in the words before paragraph (a) omit “lifetime”.