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

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The Taxation of Pension Schemes (Transitional Provisions) Order 2006

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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.

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