PART 1Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER 4Pensions
50Drawdown pensions and dependants' drawdown pensions
F1(1)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)
In Schedule 16 to FA 2011 (benefits under pension schemes)—
(a)
in paragraph 90(2)(a), after “year” insert “
beginning before 26 March 2013 and
”
,
(b)
in paragraph 90(3), omit paragraph (b) and the “and” before it,
(c)
in paragraph 98(2)(a), after “year” insert “
beginning before 26 March 2013 and
”
, and
(d)
in paragraph 98(3), omit paragraph (b) and the “and” before it.
(4)
The amendments made by subsections (1) and (2) have effect in relation to drawdown pension years beginning on or after 26 March 2013.
(5)
The amendments made by subsection (3)(a) and (c) are treated as having come into force on 26 March 2013.
(6)
The amendments made by subsection (3)(b) and (d) have effect in relation to transfers within paragraph 90(5) or 98(5) of Schedule 16 to FA 2011 occurring during a drawdown pension year ending on or after 25 March 2013.