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

Part 6 U.K. Employment income: income which is not earnings or share-related

Chapter 3 U.K. Payments and benefits on termination of employment etc.

Exceptions and reductions U.K.

408 Exception for contributions to [F1 registered pension schemes] U.K.

(1) This Chapter does not apply to a contribution to a [F2 registered pension scheme] [F3 or an employer-financed retirement benefit scheme] 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.

F4 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in s. 408 heading substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 63(4) (with Sch. 36)

F2 Words in s. 408(1) substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 63(2) (with Sch. 36)

F3 Words in s. 408(1) inserted (with effect in relation to any time on or after 6.4.2006 in accordance with art. 1(2) of the amending S.I.) by The Taxation of Pension Schemes (Consequential Amendments) (No. 2) Order 2006 (S.I. 2006/1963), arts. 1(1), 2(2)

F4 S. 408(2) repealed (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 63(3), Sch. 42 Pt. 3 (with Sch. 36)