Part 4Pensions

71Tax provision consequential on Part 1 of Pensions Act 2008 etc

1

The Treasury may by regulations make provision in relation to any of the relevant taxes in consequence of Part 1 of the Pensions Act 2008 or Part 1 of the Pensions (No.2) Act (Northern Ireland) 2008.

2

The provision that may be made by regulations under this section includes provision imposing any of the relevant taxes (as well as provisions for exemptions or reliefs).

3

The relevant taxes are—

a

income tax,

b

capital gains tax,

c

corporation tax,

d

inheritance tax,

e

value added tax,

f

stamp duty land tax,

g

stamp duty, and

h

stamp duty reserve tax.

4

Regulations under this section may include provision having effect in relation to any time before they are made if the provision does not increase any person's liability to tax.

5

Regulations under this section may make different provision for different cases.

6

Regulations under this section may include—

a

provision amending any enactment or instrument, and

b

consequential, supplementary and transitional provision.

7

Regulations under this section are to be made by statutory instrument.

8

A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.