SCHEDULES

F1SCHEDULE 29ATaxable property held by investment-regulated pension schemes

Annotations:
Amendments (Textual)
F1

Sch. 29A inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 13

Part 4Amount and timing of unauthorised payment

Introduction

C131

1

This Part of this Schedule has effect for determining—

a

the amount of an unauthorised payment treated as made to a member of an investment-regulated pension scheme by virtue of section 174A, and

b

the time when such a payment is treated as made.

2

The amount is determined by—

a

finding the total taxable amount in relation to the unauthorised payment (see paragraphs 32 to 40),

b

apportioning that amount to the pension scheme (see paragraphs 41 to 43),

c

in a case to which paragraph 28 applies (acquisition etc of further interest in vehicle), making an adjustment under paragraph 44 to the amount mentioned in paragraph (b), and

d

apportioning that amount to the member to whom the payment is treated as made in accordance with paragraph 45.