Part 3Amendments of subordinate legislation

The Taxation of Pension Schemes (Transitional Provisions) Order 200611.

(1)

The Taxation of Pension Schemes (Transitional Provisions) Order 200632 is amended as follows.

(2)

In article 25CA (circumstance A: tax treatment of stand-alone lump sums), in paragraph (1)—

(a)

for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(b)

after “pension scheme” insert “to whom a stand-alone lump sum is paid”.

(3)

In article 25CB (circumstance B: tax treatment of stand-alone lump sums), in paragraph (1)—

(a)

for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(b)

after “pension scheme” insert “to whom a stand-alone lump sum is paid”.

(4)

In article 25CC (circumstance C: tax treatment of stand-alone lump sums)—

(a)

in paragraph (1)—

(i)

for “for the purposes of determining the income tax treatment of a stand-alone lump sum paid” substitute “in relation”;

(ii)

after “pension scheme” insert “to whom a stand-alone lump sum is paid”;

(b)

in paragraph (5), after “death benefit allowance)” insert “has effect as if”.