Finance Act 2005

Valid from 06/04/2007

Application of PAYE to annuities etc. U.K.

60 U.K. In section 683(3) of ITEPA 2003 (PAYE pension income), after the entry relating to section 579B of that Act insert— “ section 612, so far as relating to annuities to which section 610 applies (annuities under non-registered occupational pension schemes), ”.

61 U.K. In Schedule 36 to FA 2004 (transitional provisions), omit—

(a) paragraph 43 (continuation of Chapter 9 of Part 9 of ITEPA 2003 for certain annuity contracts with continued exclusion from PAYE), and

(b) paragraph 46 (application of PAYE to certain existing annuity contracts taxable under section 612 of ITEPA 2003).

62 U.K. In sections 348(1A) and 349(1A) of ICTA (deduction of tax), omit—

(a) paragraph (b), and

(b) in paragraph (c), “, 610”.