C1C3C4C2C5Part 4Pension schemes etc

Annotations:
Modifications etc. (not altering text)

C3C4C2C5Chapter 7Compliance

Registration regulations

I1C3C4C2C5256C3C4C2C5Enhanced lifetime allowance regulations

1

This section applies to regulations made by the Board of Inland Revenue under—

a

section 220(5) (lifetime allowance enhancement: registration of pension credits),

b

section 221(6) (lifetime allowance enhancement: individuals who are not always relevant UK individuals),

c

section 224(9) (lifetime allowance enhancement: transfers from recognised overseas pension scheme),

d

paragraph 7(1)(b) F1or 11A(1)(c) of Schedule 36 (lifetime allowance enhancement: primary protection),

e

paragraph 12(1) F2or 15A(1)(b) of that Schedule (lifetime allowance: enhanced protection), and

f

paragraph 18(6) of that Schedule (lifetime allowance enhancement: pre-commencement pension credits).

2

The regulations to which this section applies are referred to in this Part as “enhanced lifetime allowance regulations”.

3

Enhanced lifetime allowance regulations may include any provision that appears appropriate for securing that the correct tax is charged—

a

by way of the lifetime allowance charge in respect of amounts crystallised by benefit crystallisation events, and

b

in respect of the payment of lump sums by registered pension schemes.

4

Enhanced lifetime allowance regulations may, for that purpose, in particular contain provision—

a

requiring any person to produce or make available documents, produce certificates or provide information, and

b

for the review from time to time of any matter registered in accordance with the regulations.