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Income Tax (Earnings and Pensions) Act 2003

Section 407: Exception for payments and benefits under tax-exempt pension schemes

1768.This section provides an exception where the payment is made or benefit provided through certain pension schemes and is due to a change in or termination of employment owing to ill health. This exception derives from paragraph 4 of Schedule 11 to ICTA.

1769.The payment or benefit referred to in subsection (1)(b) will usually be a commutation payment calculated by reference to past service.

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