Version Superseded: 06/04/2006
Point in time view as at 01/04/2006.
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 12.
12(1)Amount 1 arises if paragraph (a) of section 179 (1) (amount of loan must not exceed 50% of pension scheme assets) is not complied with.U.K.
(2)Amount 1 is—
where—
AL is the amount of the loan, and
VA is an amount equal to 50% of the aggregate of the amount of the sums, and the market value of the assets, held for the purposes of the pension scheme before the loan is made.
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