SCHEDULES

SCHEDULE 36Pension schemes etc: transitional provisions and savings

Part 4Other provisions

Benefits taxable under Chapter 2 of Part 6 of ITEPA 2003: contributions taxed pre-commencement

55

(1)

This paragraph has effect if paragraph 54 does not.

(2)

Section 394 of ITEPA 2003 (charge on benefits from non-approved schemes) does not apply in relation to so much of the lump sum as does not exceed the sum, or the aggregate of the sums, referred to in paragraph 53(1)(b).

(3)

And the reference in section 395 of that Act (general rules) to the amount of the lump sum is to the amount of the remainder of the lump sum.