SCHEDULES

SCHEDULE 4Pension flexibility: annuities etc

PART 2Income tax on beneficiaries' annuities etc

Minor and consequential amendments

23

1

For section 579CZA(5)(b) of ITEPA 2003 (tax exemption for dependants' income withdrawal overridden where any paid before 6 April 2015) substitute—

b

before 6 April 2015—

i

any payment of dependants' income withdrawal in respect of the deceased member was made to the person from, or

ii

any payment in respect of the deceased member was made to the person of a dependants' short-term annuity purchased using sums or assets out of,

the person's dependant's drawdown pension fund in respect of a money purchase arrangement under a registered pension scheme, and

2

The amendment made by this paragraph has effect in relation to pension paid on or after 6 April 2015.