- Latest available (Revised)
- Original (As made)
There are currently no known outstanding effects for the The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023, Section 44.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
44.—(1) Schedule 15 to FA 2020 (tax relief for scheme payments etc)(1) has effect subject to the following modifications.
(2) Paragraph 2 (qualifying payments) has effect as if—
(a)in sub-paragraph (1), for “(5)” there were substituted “(5) and (5A)”;
(b)after sub-paragraph (5) there were inserted—
“(5A) A payment is within this sub-paragraph if it is a compensation payment made under or by virtue of Part 1 of PSPJOA 2022.”.
(3) Paragraph 3 (exemption from income tax) has effect as if after sub-paragraph (5) there were inserted—
“(6) This paragraph has effect in relation to qualifying payments within paragraph 2(5A) whenever received.”.
(4) Paragraph 4 (exemptions from capital gains tax) has effect as if, in sub-paragraph (3)—
(a)the “and” at the end of paragraph (b) were omitted;
(b)after paragraph (c) there were inserted—
“, and
(d)in a case where the qualifying payment concerned is within paragraph 2(5A), in relation to disposals whenever made.”.
(5) Paragraph 5 (relief from inheritance tax) has effect as if—
(a)in sub-paragraph (1), for “sub-paragraph (4)” there were substituted “sub-paragraphs (4) and (4A)”;
(b)after sub-paragraph (4) there were inserted—
“(4A) This paragraph does not apply in a case where the qualifying payment is within paragraph 2(5A).”.
2020 c. 14. “FA 2020” is defined as the Finance Act 2020 (c. 14) in section 103 of the Finance Act 2022.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: