The Taxation of Pensions Schemes (Rates, etc) Order 2010
Income tax
Tax
en
King's Printer of Acts of Parliament
2011-07-04
INCOME TAX
This Order makes amendments to the rate of two tax charges applicable to pension schemes. The rate specified in section 394 of the Income Tax (Earnings and Pensions) Act 2003 which applies to the charge on “relevant benefits” contained in section 394(2) is increased from 40% to 50%. Section 205 of the Finance Act 2004 is amended to increase the limit for the lower rate from £10,800 to £20,000. The upper rate is increased from 40% to 50%. The amendments will take effect for the tax year 2010-11 and subsequent tax years.
2010 No. 536
Income Tax
The Taxation of Pensions Schemes (Rates, etc) Order 2010
Made
Laid before the House of Commons
Coming into force
The Treasury make this Order in exercise of the powers conferred by section 394(4) of the Income Tax (Earnings and Pensions) Act 20031 and section 205(5) of the Finance Act 20042.