Finance Act 2017

Consequential amendments in ITEPA 2003 U.K.

9 (1) Section 576A of ITEPA 2003, as it applies where the year of departure is the tax year 2013-14 or a later tax year, is amended as follows. U.K.

(2) In subsection (6)(b) (pension income: temporary non-residents: non-application where payment not referable to relevant transfer fund)—

(a) for “not referable” substitute “ referable neither ”, and

(b) after “relevant transfer fund” insert “ , nor to the member's ring-fenced transfer funds, ”.

(3) In subsection (10) (interpretation), at the end insert—

““member's ring-fenced transfer fund” (see paragraph 1(6C) and (6D)).”

(4) The amendments made by this paragraph apply in relation to relevant withdrawals on or after 6 April 2017.

10 (1) Section 576A of ITEPA 2003, as it applies where the year of departure is the tax year 2012-13 or an earlier tax year, is amended as follows. U.K.

(2) In subsection (6) (pension income: temporary non-residents: non-application unless payment referable to relevant transfer fund), after “member's relevant transfer fund” insert “ , or the member's ring-fenced transfer funds, ”.

(3) In subsection (8) (interpretation), before the definition of “scheme pension” insert—

““member's ring-fenced transfer funds” has the same meaning as in that Schedule (see paragraph 1(6C) and (6D));”.

(4) The amendments made by this paragraph apply in relation to relevant withdrawals on or after 6 April 2017.