C2C1C4C5C3Part 9Pension income

Annotations:
Modifications etc. (not altering text)
C2

Pt. 9: power to amend conferred (17.12.2014) by Taxation of Pensions Act 2014 (c. 30), s. 4(3)

C1

Pt. 9 excluded by 2004 c. 12, Sch. 36 para. 45A(1) (as inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 4 para. 19)

Chapter 10Other employment-related annuities

609Annuities for the benefit of dependants

1

This section applies to any annuity which was granted for consideration consisting in whole or in part of sums F1—

a

which, in the tax year 2012-13 or an earlier tax year, satisfied the conditions for relief under section 273 of ICTA or section 459 of ITA 2007 (obligatory contributions to secure an annuity for the benefit of dependants), or

b

which fall within subsection (3)

2

But this section applies to an annuity which arises from a source outside the United Kingdom only if it is paid to a person resident in the United Kingdom.

F23

A sum falls within this subsection if—

a

in the tax year 2013-14 or a later tax year, the sum is paid by an individual, or is deducted from an individual's earnings, under an Act or the individual's terms and conditions of employment,

b

the sum is for the purpose of—

i

securing a deferred annuity after the individual's death for the individual's surviving spouse or civil partner, or

ii

making provision after the individual's death for the individual's children, and

c

the individual—

i

is UK resident for the tax year in which the sum is paid or deducted, or

ii

at any time in that tax year, falls within any of paragraphs (a) to (f) of section 460(3) of ITA 2007 (matters relating to residence).

4

Subsection (3)(a) does not cover contributions paid by a person under—

a

Part 1 of the Social Security Contributions and Benefits Act 1992, or

b

Part 1 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992.

5

In subsection (3)(a) “earnings” has the meaning given by section 62.