The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024

The Taxation of Pension Schemes (Transitional Provisions) Order 2006

11.—(1) The Taxation of Pension Schemes (Transitional Provisions) Order 2006(1) is amended as follows.

(2) In article 25CA (circumstance A: tax treatment of stand-alone lump sums), in paragraph (1)—

(a) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(b) after “pension scheme” insert “to whom a stand-alone lump sum is paid”.

(3) In article 25CB (circumstance B: tax treatment of stand-alone lump sums), in paragraph (1)—

(a) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(b) after “pension scheme” insert “to whom a stand-alone lump sum is paid”.

(4) In article 25CC (circumstance C: tax treatment of stand-alone lump sums)—

(a) in paragraph (1)—

(i) for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(ii) after “pension scheme” insert “to whom a stand-alone lump sum is paid”;

(b) in paragraph (5), after “death benefit allowance)” insert “has effect as if”.

(1)

S.I. 2006/572. Articles 25CA, 25CB and 25CC were added by paragraph 95 of Schedule 9 to FA 2024.