Income Tax (Earnings and Pensions) Act 2003 (c. 1)

Part 9 Pension income

Chapter 7 Former approved superannuation funds

Annuities

590 Annuities

This section applies to—

(a) any annuity paid under a former approved superannuation fund, and

(b) any annuity acquired using funds held for the purposes of a former approved superannuation fund.

591 Taxable pension income

If section 590 applies, the taxable pension income for a tax year is the full amount of the annuity paid in that year.

592 Person liable for tax

If section 590 applies, the person liable for any tax charged under this Part is the person receiving or entitled to the annuity.