[F1227BThe alternative chargeable amountU.K.
(1)The alternative chargeable amount is the total of—
(a)the amount (if any) by which the defined-benefit input sub-total exceeds the alternative annual allowance, and
(b)the amount by which the money-purchase input sub-total exceeds [F2£4,000].
[F3(2)The alternative annual allowance is—
where AA is the annual allowance for the year in the case of the individual (see sections 228(1) and 228A).]
(3)The defined-benefit input sub-total is the total of—
(a)the pension input amounts in respect of each defined benefits arrangement relating to the individual under a registered pension scheme of which the individual is a member (see section 229(2)(c)),
(b)the pension input amounts in respect of each hybrid arrangement—
(i)relating to the individual under a registered pension scheme of which the individual is a member, and
(ii)in respect of which the pension input amount is input amount C mentioned in section 237, and
(c)any amounts required to be included by section F4... 227F(4) or (6) (pension input periods that end in the year [F5and contain] the day on which rights are first flexibly accessed F6...).
(4)Subsection (3)(b) is subject to section 227D (pension input amounts for certain hybrid arrangements).
(5)If, in the case of a hybrid arrangement, input amount C mentioned in section 237—
(a)is a relevant input amount for the purposes of section 237, and
(b)is equal to—
(i)input amount A or B mentioned in section 237 if that is the only other relevant input amount for the purposes of section 237, or
(ii)the greater of input amounts A and B mentioned in section 237 if both are relevant input amounts for the purposes of section 237,
the pension input amount in respect of the arrangement is, for the purposes of subsection (3)(b) and sections 227C(1)(b) and 227D(1)(c), treated as being input amount A or B or, as the case may be, the greater of input amounts A and B (and, in either case, not input amount C).]
Textual Amendments
F1Ss. 227B-227G inserted (17.12.2014) (with effect in accordance with Sch. 1 para. 65(2) of the amending Act) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 para. 65(1)
F2Word in s. 227B(1)(b) substituted (with effect in accordance with s. 7(5) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 7(3)
F3"£4,000" in s. 227B(2) formula substituted (with effect in accordance with s. 7(5) of the amending Act) for "£10,000" by Finance (No. 2) Act 2017 (c. 32), s. 7(3)
F4Words in s. 227B(3)(c) omitted (with effect in accordance with Sch. 4 para. 4(3) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), Sch. 4 para. 4(2)(a)(i)
F5Words in s. 227B(3)(c) substituted (with effect in accordance with Sch. 4 para. 4(3) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 4 para. 4(2)(a)(ii)
F6Words in s. 227B(3)(c) omitted (with effect in accordance with Sch. 4 para. 4(3) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), Sch. 4 para. 4(2)(a)(iii)