PART XIV PENSION SCHEMES, SOCIAL SECURITY BENEFITS, LIFE ANNUITIES ETC.
C1CHAPTER I RETIREMENT BENEFIT SCHEMES
Charge to tax in certain cases
600 Charge to tax: unauthorised payments to or for employees.
M11
This section applies to any payment to or for the benefit of an employee, otherwise than in course of payment of a pension, being a payment made out of funds which areor have beenF1 held for the purposes of a scheme whichis or has at any time beenF1 approved for the purposes of—
a
this Chapter;
b
Chapter II of Part II of the Finance Act 1970; or
c
section 208 or Chapter II of Part IX of the 1970 Act.
C22
If the payment F2is not expressly authorised by the rules of the scheme or by virtue of paragraph 33 of Schedule 6 to the Finance Act 1989 the employee (whether or not he is the recipient of the payment) shall be chargeable to tax on the amount of the payment under Schedule E for the year of assessment in which the payment is made.
3
Any payment chargeable to tax under this section shall not be chargeable to tax under section 598 or 599 or under the Regulations mentioned in paragraph 8 of Schedule 3 to the Finance Act 1971.
4
References in this section to any payment include references to any transfer of assets or other transfer of money’s worth.
Pt. 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