Point in time view as at 17/12/2014.
Income Tax (Earnings and Pensions) Act 2003, Section 407 is up to date with all changes known to be in force on or before 06 March 2025. 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.
(1)This Chapter does not apply to a payment or other benefit provided under a tax-exempt pension scheme if—
(a)the payment or other benefit is by way of compensation—
(i)for loss of employment, or
(ii)for loss or diminution of earnings, and
the loss or diminution is due to ill-health, or
(b)the payment or other benefit is properly regarded as earned by past service.
(2)For this purpose “tax-exempt pension scheme” means—
[F1(a)a registered pension scheme,
(aa)a scheme set up by a government outside the United Kingdom for the benefit of employees or primarily for their benefit, or]
(b)any such scheme or fund as was described in section 221(1) and (2) of ICTA 1970 (schemes to which payments could be made without charge to tax under section 220 of ICTA 1970).
F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 407(2)(a)(aa) substituted for s. 407(2)(a) (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 62(2) (with Sch. 36)
F2S. 407(3) repealed (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 62(3), Sch. 42 Pt. 3 (with Sch. 36)
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