No versions valid at: 01/04/2006
Point in time view as at 01/04/2006. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Finance Act 2004, Cross Heading: Benefit crystallisation event 2: meaning of “P”.
Valid from 06/04/2006
9(1)For the purposes of benefit crystallisation event 2 “P” is the amount of the pension which will be payable to the individual in the period of 12 months beginning with the day on which the individual becomes entitled to it (assuming that it remains payable throughout that period at the rate at which it is payable on that day).U.K.
(2)If the amount of the pension which will be payable will or may be reduced so as to reflect the amount of any tax under section 215 to be paid by the scheme administrator, that reduction is to be left out of account in determining the amount of the pension which will be payable for the purposes of sub-paragraph (1).
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