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Changes over time for: Section 230


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 21/07/2009
Status:
Point in time view as at 31/10/2006. This version of this provision has been superseded.

Status
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Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2004, Section 230.

Changes to Legislation
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230Cash balance arrangementsU.K.
(1)The pension input amount in respect of a cash balance arrangement is the amount of any increase in the value of the individual’s rights under the arrangement during the pension input period of the arrangement that ends in the tax year.
(2)There is an increase in the value of the individual’s rights under the arrangement during the pension input period if—
(a)the opening value of the individual’s rights under the arrangement, is exceeded by
(b)the closing value of the individual’s rights under the arrangement.
(3)The amount of the increase in the value of the individual’s rights under the arrangement during the pension input period is the amount of that excess.
(4)The opening value of the individual’s rights under the arrangement is the amount which would, on the valuation assumptions (see section 277), be available for the provision of benefits to or in respect of the individual under the arrangement if the individual became entitled to the benefits at the beginning of the pension input period.
(5)The closing value of the individual’s rights under the arrangement is the amount which would, on the valuation assumptions, be available for the provision of benefits to or in respect of the individual under the arrangement if the individual became entitled to the benefits at the end of the pension input period.
(6)Section 231 (uprating of opening value) and section 232 (adjustments of closing value) supplement this section.
Modifications etc. (not altering text)
Commencement Information
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