Part 6Employment income: income which is not earnings or share-related
Chapter 3Payments and benefits on termination of employment etc.
Exceptions and reductions
408Exception for contributions to tax-exempt pension schemes
1
This Chapter does not apply to a contribution to a tax-exempt pension scheme or approved personal pension arrangements if the contribution is made—
a
as part of an arrangement relating to the termination of a person’s employment, and
b
in order to provide benefits for the person in accordance with the terms of the scheme or approved personal pension arrangements.
2
For this purpose—
“tax-exempt pension scheme” has the same meaning as in section 407(2), and
“approved” and “personal pension arrangements” have the meaning given by section 630(1) of ICTA.