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Income and Corporation Taxes Act 1988

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Changes over time for: Section 613

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Changes to legislation:

Income and Corporation Taxes Act 1988, Section 613 is up to date with all changes known to be in force on or before 11 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

613 Parliamentary pension funds.U.K.

[F1(1)M1The 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 [F2amounts deducted in pursuance of section 4 of the House of Commons Members' Fund Act 2016]; 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)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)M2The F5. . . trustees of—

(a)the House of Commons Members’ Fund [F6specified in section 1 of the 2016 Act];

(b)F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F8(bb)F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(c)F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d)F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

shall be entitled to exemption from income tax in respect of all income derived from [F9that Fund] or any investment of [F9that Fund].

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

Textual Amendments

F4S. 613(3) repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 83, Sch. 8 Pt. 1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)

F5Word in s. 613(4) repealed (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 26(a), Sch. 42 Pt. 3, Note (with Sch. 36)

F8S. 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

F9Words 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

M1Source-1970 s.211(1), (4)

M2Source-1970 s.211(2) 1981 s.50(1); PPA 1987 Sch.3 2(1)

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