Finance Act 2004

11 (1) Section 233 (1) (other money purchase arrangements) applies by virtue of paragraph 8 in relation to an individual who is a currently-relieved member of a currently-relieved non-UK pension scheme in relation to a tax year as if— U.K.

(a) the reference in paragraph (a) to relievable pension contributions paid by or on behalf of the individual under an arrangement under the pension scheme relating to the individual were to those in respect of which relief from tax is given by virtue of Schedule 33 (overseas pension schemes: migrant member relief) or double tax arrangements, and

(b) the reference in paragraph (b) to contributions paid in respect of the individual under such an arrangement by an employer of the individual were to the appropriate fraction of contributions so paid;

and section 237 applies accordingly.

(2) The appropriate fraction is—

where—

EI is the total amount of employment income of the individual from any employment or employments with the employer for the tax year, [F1 excluding any such income which is exempt income (within the meaning of section 8 of ITEPA 2003),] and

TE is so much of EI as constitutes taxable earnings from any such employment (within the meaning of section 10(2) of ITEPA 2003).

Textual Amendments

F1 Words in Sch. 34 para. 11(2) inserted (21.7.2008) (with effect in accordance with Sch. 29 para. 19(5)(6) of the amending Act) by Finance Act 2008 (c. 9), Sch. 29 para. 19(3)

Modifications etc. (not altering text)

C1 Sch. 34 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 17

Commencement Information

I1 Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284