PART 2Consequential Amendments to Secondary Legislation

Amendment of the Tax Credits (Definitions and Calculation of Income) Regulations 200226

1

The Tax Credits (Definition and Calculation of Income) Regulations 200244 are amended as follows.

2

In regulation 2(2) (interpretation)—

a

in the definition of “pension fund holder”—

i

for “personal pension scheme or a retirement annuity contract” substitute “registered pension scheme”; and

ii

omit “or contract” at the end;

b

omit the definition of “personal pension scheme”;

c

after the definition of “qualifying young person” insert—

  • registered pension scheme“ has the meaning given by section 150(2) of the Finance Act 2004;

d

omit the definitions of “retirement annuity contract” and “retirement benefits scheme”.

3

In regulation 3(7) (calculation of income of claimant)45—

a

at the end of sub-paragraph (b) add “and”;

b

for sub-paragraph (c) substitute—

c

the amount of any contribution made by the claimant, or in the case of a joint claim, by either or both of the claimants to a registered pension scheme together with the amount of any tax relief due on those contributions.

c

omit sub-paragraph (d).

4

In regulation 5(1) (pension income)—

a

for sub-paragraphs (d) and (e) substitute—

d

any pension, annuity or income withdrawal to which section 579A46 of ITEPA applies;

e

any unauthorised member payments to which section 208(2)(a) or (b) of the Finance Act 2004 applies;

b

omit sub-paragraphs (g), (h), (i) and (j);

c

for sub-paragraph (k) substitute—

k

any annuity paid under a retirement annuity contract to which Chapter 9 of Part 9 of ITEPA47 applies;

d

in Table 2, in item 10, for “section 637 of ITEPA” substitute “section 636A48 of ITEPA”.