SCHEDULES
SCHEDULE 30Registered pension schemes: employer loans
Amount of unauthorised payment
Amount C
I116
1
Amount C arises if paragraph (c) of section 179(2) (amount payable for a period to be not less than required amount) is not complied with and is calculated as follows.
2
In relation to each period beginning with the date on which the loan is made and ending with the last day of a loan year, calculate—
where—
RA is the required amount in relation to that period, and
AP is the amount payable during that period.
3
If an amount calculated under sub-paragraph (2) is negative, treat that amount as nil.
4
Amount C is the largest of the amounts calculated under sub-paragraph (2).