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Income Tax (Earnings and Pensions) Act 2003

Section 308: Exemption of contributions to approved personal pension arrangements

1278.This section provides there is no liability to income tax on contributions by an employer under approved personal pension arrangements made by the employee. It derives from section 643(1) of ICTA.

1279.Subsection (1) provides there is no liability to income tax on such contributions as earnings.

1280.Subsection (2) sets out relevant definitions by cross-reference to section 630(1) of ICTA.

1281.A personal pension scheme may be approved by the Board of Inland Revenue under section 631 of ICTA, in accordance with the rules in Chapter 4 of Part 14 of that Act.

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