- Latest available (Revised)
- Point in Time (19/02/2008)
- Original (As enacted)
Income and Corporation Taxes Act 1988
You are here:
- UK Public General Acts
- 1988 c. 1
- PART XIV
- CHAPTER I
What Version
Advanced Features
- Show Geographical Extent(e.g. England, Wales, Scotland and Northern Ireland)
- Show Timeline of Changes
Opening Options
More Resources
Changes over time for: CHAPTER I
Alternative versions:
- 01/02/1991- Amendment
- 19/03/1991- Amendment
- 15/07/1991- Amendment
- 25/07/1991- Amendment
- 16/07/1992- Amendment
- 19/02/1993- Amendment
- 27/07/1993- Amendment
- 03/05/1994- Amendment
- 01/05/1995- Amendment
- 01/01/1996- Amendment
- 29/04/1996- Amendment
- 31/07/1998- Amendment
- 27/07/1999- Amendment
- 28/07/2000- Amendment
- 11/05/2001- Amendment
- 24/07/2002- Amendment
- 06/04/2003- Amendment
- 10/07/2003- Amendment
- 28/09/2004- Amendment
- 31/12/2004- Amendment
- 06/04/2005- Amendment
- 05/12/2005- Amendment
- 06/04/2006- Amendment
- 19/02/2008
Point in time
Status:
Point in time view as at 19/02/2008.
Changes to legislation:
Income and Corporation Taxes Act 1988,
CHAPTER I is up to date with all changes known to be in force on or before 02 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
CHAPTER IU.K. RETIREMENT BENEFIT SCHEMES
Modifications etc. (not altering text)
C1Pt. 14 Ch. 1 (ss. 590-612) modified (31.3.1995) by Judicial Pensions and Retirement Act 1993 (c. 8), ss. 18, 19(4), 31(2); S.I. 1995/631, art. 2
Approval of schemesU.K.
590 Conditions for approval of retirement benefit schemes.U.K.
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F2590A Section 590: supplementary provisions.U.K.
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F2Ss. 590A-590C inserted by Finance Act 1989 (c. 26), s. 75, Sch. 6 paras. 4, 18(4)
F3Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F4590B Section 590: further supplementary provisions.U.K.
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F4Ss. 590A-590C inserted by Finance Act 1989 (c. 26), s. 75, Sch. 6 paras. 4, 18(4)
F5Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F6590C Earnings cap.U.K.
F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F6Ss. 590A-590C inserted by Finance Act 1989 (c. 26), s. 75, Sch. 6 paras. 4, 18(4)
F7Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
591 Discretionary approval.U.K.
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F9591A Effect on approved schemes of regulations under section 591.U.K.
F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F9S. 591A inserted by Finance Act 1991 (c. 31), s.35
F10Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F11591B Cessation of approval: general provisions.U.K.
F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F11S. 591B inserted (retrospectively) by Finance Act 1991 (c. 31), s. 36(1)(3)
F12Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F13591C Cessation of approval: tax on certain schemes.U.K.
F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F13Ss. 591C, 591D inserted (with effect in accordance with s. 61(3) of the amending Act) by Finance Act 1995 (c. 4), s. 61(1)
F14Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
591D Section 591C: supplementary.U.K.
F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F13Ss. 591C, 591D inserted (with effect in accordance with s. 61(3) of the amending Act) by Finance Act 1995 (c. 4), s. 61(1)
F15Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
Tax reliefsU.K.
592 Exempt approved schemes.U.K.
F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F16Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
593 Relief by way of deductions from contributions.U.K.
F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F17Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
594 Exempt statutory schemes.U.K.
F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F18Ss. 590-594 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
Charge to tax in certain casesU.K.
595 Charge to tax in respect of certain sums paid by employer etc.U.K.
F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F19Ss. 595, 596 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 74, Sch. 8 Pt. 1 (with Sch. 7)
596 Exceptions from section 595.U.K.
F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F20Ss. 595, 596 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 74, Sch. 8 Pt. 1 (with Sch. 7)
[F21596A Charge to tax: benefits under non-approved schemes.U.K.
F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F21Ss. 596A, 596B inserted (with effect in accordance with Sch. 6 para. 18(7) of the amending Act) by Finance Act 1989 (c. 26), Sch. 6 para. 9
F22Ss. 596A-596C repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 75, Sch. 8 Pt. 1 (with Sch. 7)
[F23596B Section 596A: supplementary provisions.U.K.
F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F23Ss. 596A, 596B inserted (with effect in accordance with Sch. 6 para. 18(7) of the amending Act) by Finance Act 1989 (c. 26), Sch. 6 para. 9
F24Ss. 596A-596C repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 75, Sch. 8 Pt. 1 (with Sch. 7)
[F25596C Notional interest treated as paid if amount charged in respect of beneficial loan.U.K.
F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F25S. 596C inserted (with effect in accordance with s. 93(4) of the amending Act) by Finance Act 1998 (c. 36), s. 93(3)
F26Ss. 596A-596C repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 75, Sch. 8 Pt. 1 (with Sch. 7)
597 Charge to tax: pensions.U.K.
F27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F27S. 597 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 76, Sch. 8 Pt. 1 (with Sch. 7)
598 Charge to tax: repayment of employee’s contributions.U.K.
F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F28Ss. 598-599A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36) (with savings in S.I. 2006/5072, arts. 1(1), 38)
599 Charge to tax: commutation of entire pension in special circumstances.U.K.
F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F29Ss. 598-599A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36) (with savings in S.I. 2006/5072, arts. 1(1), 38)
[F30599A Charge to tax: payments out of surplus funds.U.K.
F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F30S. 599A inserted (with effect in accordance with Sch. 6 para. 18(9) of the amending Act) by Finance Act 1989 (c. 26), Sch. 6 para. 12
F31Ss. 598-599A repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36) (with savings in S.I. 2006/5072, arts. 1(1), 38)
600 Charge to tax: unauthorised payments to or for employees.U.K.
F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F32S. 600 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 78, Sch. 8 Pt. 1 (with Sch. 7)
601 Charge to tax: payments to employers.U.K.
F33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F33Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
602 Regulations relating to pension fund surpluses.U.K.
F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F34Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
603 Reduction of surpluses.U.K.
F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F35Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
Supplementary provisionsU.K.
604 Application for approval of a scheme.U.K.
F36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F36Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
605 Information.U.K.
F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F37Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F38605A False statements etc.U.K.
F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F38S. 605A inserted (with application in accordance with s. 106(2) of the amending Act) by Finance Act 1994 (c. 9), s. 106(1)
F39Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
606 Default of administrator etc.U.K.
F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F40Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F41606A Recourse to scheme members.U.K.
F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F41S. 606A inserted (with effect in accordance with Sch. 15 para. 6(2) of the amending Act) by Finance Act 1998 (c. 36), Sch. 15 para. 6(1)
F42Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
607 Pilots’ benefit fund.U.K.
F43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F43Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
608 Superannuation funds approved before 6th April 1980.U.K.
F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F44Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
609 Schemes approved before 23rd July 1987.U.K.
F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F45Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
610 Amendments of schemes.U.K.
F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F46Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
611 Definition of “retirement benefits scheme”.U.K.
F47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F47Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F48611A Definition of relevant statutory scheme.U.K.
F49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F48S. 611A inserted (14.3.1989) by Finance Act 1989 (c. 26), Sch. 6 paras. 15, 18(1)
F49Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
[F50611AA Definition of the administrator.U.K.
F51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F50S. 611AA inserted (with application in accordance with s. 103(3) of the amending Act) by Finance Act 1994 (c. 4), s. 103(1)
F51Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
611A Definition of relevant statutory scheme.U.K.
F49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F48S. 611A inserted (14.3.1989) by Finance Act 1989 (c. 26), Sch. 6 paras. 15, 18(1)
F49Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
612 Other interpretative provisions, and regulations for purposes of this Chapter.U.K.
F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F52Ss. 601-612 repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note (with Sch. 36)
Options/Help
Print Options
PrintThe Whole Act
PrintThe Whole Part
PrintThis Chapter only
You have chosen to open The Whole Act
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open The Whole Act as a PDF
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
You have chosen to open The Whole Act without Schedules
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open The Whole Act without Schedules as a PDF
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
You have chosen to open the Whole Act
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open the Whole Act without Schedules
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open Schedules only
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Legislation is available in different versions:
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.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
See additional information alongside the content
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.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
Timeline of Changes
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.
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.