C1C2Part 9Pension income

Annotations:
Modifications etc. (not altering text)
C1

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

C2

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)

F1CHAPTER 15ALUMP SUMS UNDER REGISTERED PENSION SCHEMES

Annotations:
Amendments (Textual)
F1

Pt. 9 Ch. 15A inserted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 31 para. 11 (with Sch. 36)

636CTrivial commutation and winding-up lump sum death benefits

1

This section applies if—

a

a trivial commutation lump sum death benefit, or

b

a winding-up lump sum death benefit,

is paid to a person under a registered pension scheme.

2

The person is to be treated as having taxable pension income for the tax year in which the payment is made equal to the amount of the lump sum.

3

In this section—

  • “trivial commutation lump sum death benefit”, and

  • “winding-up lump sum death benefit”,

  • have the same meaning as in section 168 of FA 2004 (see Part 2 of Schedule 29 to that Act).