Part 4Pension schemes etc
Chapter 4Registered pension schemes: tax reliefs and exemptions
Employers' contributions
199Deemed contributions
(1)
This section applies where a sum is paid to the trustees or managers of a registered pension scheme by an employer in or towards the discharge of any liability of the employer under—
(a)
section 75 of the Pensions Act 1995 (c. 26)(deficiencies in the assets of a pension scheme), or
(b)
Article 75 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) (corresponding provision for Northern Ireland).
(2)
The making of the payment is to be treated for the purposes of F1the relieving provisions (within the meaning of section 197) and sections 197 and 198 as if it were the payment of a contribution by the employer under the pension scheme.
(3)
Subsections (4) and (5) apply if the employer’s trade, profession, vocation or business is discontinued before the making of the payment.
(4)
The payment is to be relieved—
(a)
to the same extent as it would have been but for the discontinuance, and
(b)
as if it had been made on the last day on which the trade, profession, vocation or business was carried on.
F2(5)
And, for the purposes of section 76 of FA 2012, it is to be treated as meeting the conditions in section 77(2)(a) and (c) of that Act to the extent that it would otherwise not meet them.