Part 4Pension schemes etc
Chapter 4Registered pension schemes: tax reliefs and exemptions
Employers' contributions
F1196KEmployer asset-backed contributions: “advances” under acceptable structured finance arrangements
(1)
This section applies if—
(a)
an employer pays a contribution under a registered pension scheme,
(b)
condition A in section 196B, 196D or 196F is met,
(c)
the asset-backed arrangement is an acceptable structured finance arrangement for the purposes of section 196B, 196D or 196F (as the case may be) and, accordingly, condition B in that section is not met, and
(d)
the advance gives rise to a loan within the meaning of Chapter 3 (see section 162).
(2)
Section 180(4) does not prevent the advance from being a scheme administration employer payment (if it would otherwise do so).
(3)
In this section “the advance” and “the asset-backed arrangement” have the same meaning as in section 196B, 196D or 196F (as the case may be).