182.—(1) This Regulation applies to the situations set out in paragraphs (2) and (3), in relation to a benefit payable under these regulations, and in paragraphs (4) and (5) “the charge” refers to either of the charges set out in paragraphs (2) and (3).
(2) The lifetime allowance charge under section 214 of the Finance Act 2004 arises because a benefit becomes payable to a person and the person and the Department are jointly and severally liable to the charge.
(3) The annual allowance charge under section 227 of the Finance Act 2004 arises in respect of a person who serves a notice under section 238A of that Act M1.
(4) The Department must pay the charge.
(5) The amount of the benefit must be reduced to reflect the amount of the charge in such manner as the Department is to determine, after taking advice from the scheme actuary.
Marginal Citations
M1Section 238A was inserted by the Finance Act 2011 (c.11), Schedule 17.