Part 4Pension schemes etc
Chapter 4Registered pension schemes: tax reliefs and exemptions
Scheme investments
187Chargeable gains
1
Section 271 of TCGA 1992 (exemptions) is amended as follows.
2
In paragraph (b) of subsection (1), for the words after “part of” substitute “
the Fund mentioned in section 613(4) of the Taxes Act (House of Commons Members' Fund);
”
.
3
In subsection (1), omit—
a
paragraph (d) (retirement annuity contracts),
b
paragraph (g) (exempt approved schemes),
c
paragraph (h) (approved personal pension schemes), and
d
paragraph (j) (authorised unit trusts which are also approved personal pension schemes or exempt approved schemes),
and the second sentence.
4
After that subsection insert—
1A
A gain accruing to a person on a disposal of investments held for the purposes of a registered pension scheme is not a chargeable gain.
5
Omit subsection (2) (superannuation funds approved before 6th April 1980).
6
In subsection (10)—
a
for “subsections (1)(g) and (h) and (2)” substitute “
subsection (1A)
”
, and
b
omit the words after “options contracts”.
7
In subsection (12), for “Subsection (1)(b), (c), (d), (g) and (h) and subsection (2)” substitute “
Subsections (1)(b) and (c) and (1A)
”
.