41(1)In Part 4 of FA 2004, section 206 (special lump sum death benefits charge) is amended as follows.U.K.
(2)In subsection (1), for paragraph (c) substitute—
“(c)a drawdown pension fund lump sum death benefit,”.
(3)After that subsection insert—
“(1A)The special lump sum death benefits charge also arises where—
(a)a defined benefits lump sum death benefit, or
(b)an uncrystallised funds lump sum death benefit,
is paid by a registered pension scheme in respect of a member who had reached the age of 75 at the date of the member's death.”
(4)In subsection (4), for “35%” substitute “ 55% ”.
F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 16 para. 41(5) omitted (with application in accordance with Sch. 2 para. 20 of the amending Act) by virtue of Taxation of Pensions Act 2014 (c. 30), Sch. 2 para. 17(5)