Finance Act 2004

Income and Corporation Taxes Act 1988 (c. 1)

28(1)Section 660A (income arising under a settlement where settlor retains an interest) is amended as follows.

(2)In subsection (9), for paragraph (c) and the word “or” before it substitute or

(c)a benefit under a relevant pension scheme.

(3)For subsections (11) and (12) substitute—

(11)In this section “relevant pension scheme” means—

(a)a registered pension scheme;

(b)a pension scheme established by a government outside the United Kingdom for the benefit, or primarily for the benefit, of its employees (or an annuity acquired using funds held for the purposes of such a pension scheme); or

(c)a pension scheme of any description which may be prescribed by regulations made by the Secretary of State.