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Finance Act 2004

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Changes over time for: Section 239

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Version Superseded: 17/07/2013

Status:

Point in time view as at 06/04/2006. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2004, Section 239. Help about Changes to Legislation

239Scheme sanction chargeU.K.

(1)A charge to income tax, to be known as the scheme sanction charge, arises where in any tax year one or more scheme chargeable payments are made by a registered pension scheme.

(2)The person liable to the scheme sanction charge is the scheme administrator.

(3)But in the case of a payment treated by virtue of section 161(3) and (4) (payments under investments acquired with scheme assets) as having been made by a pension scheme which has been wound up, the person liable to the scheme sanction charge is the person who was, or each of the persons who were, the scheme administrator immediately before the pension scheme was wound up.

(4)A person liable to the scheme sanction charge is liable whether or not—

(a)that person, and

(b)any other person who is liable to the scheme sanction charge,

are resident, ordinarily resident or domiciled in the United Kingdom.

(5)The following sections make further provision about the scheme sanction charge—

  • section 240 (amount of charge), and

  • section 241 (scheme chargeable payment).

[F1(6)This section is subject to provision made by regulations under section 273ZA (income and gains from taxable property).]

Textual Amendments

F1S. 239(6) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 8

Modifications etc. (not altering text)

Commencement Information

I1Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284

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