Finance Act 2024

Amendments of Schedule 29 to FA 2004 U.K.

63 (1) In Schedule 29 to FA 2004 (registered pension schemes: authorised lump sums: supplementary), paragraph 4A (uncrystallised funds pension lump sum) is amended as follows.

(2) In sub-paragraph (1)—

(a) at the end of paragraph (e) insert “and”;

(b) omit the “and” at the end of paragraph (f);

(c) omit paragraph (g).

(3) Omit sub-paragraphs (3) to (6).

(4) At the end insert—

“(8) For further provision about circumstances in which a lump sum is not an uncrystallised funds pension lump sum, see the following provisions of Part 2 of Schedule 36 (transitional provision and saving: pre-commencement rights: enhancement of allowances)—

(a) paragraph 7(8) (enhancement of allowances: primary protection);

(b) paragraph 12(3H) (enhancement of allowances: enhanced protection);

(c) paragraph 18(7) (enhancement of allowances: pre-commencement pension credits);

(d) paragraph 20A(8) (pension credits from previously crystallised rights);

(e) paragraph 20B(8) (individuals who are not always relevant UK individuals);

(f) paragraph 20E(9) (transfers from recognised overseas pension schemes).”