SCHEDULES
SCHEDULE 36Pension schemes etc: transitional provisions and savings
Part 4Other provisions
53Benefits taxable under Chapter 2 of Part 6 of ITEPA 2003: contributions taxed pre-commencement
1
Paragraph 54 or 55 has effect where—
a
section 394 of ITEPA 2003 (charge on benefits from non-approved schemes) operates (or would otherwise operate) by reason of the provision of a lump sum under an employer-financed retirement benefits scheme on or after 6th April 2006, and
b
before that date an employer has paid any sum or sums, with a view to the provision of benefits under the scheme, in respect of which an employee is taxed.
2
For the purposes of sub-paragraph (1)(a) section 394 of ITEPA 2003 operates if—
a
an amount counts as employment income of an individual under that section, or
b
the person who is, or persons who are, the responsible person in relation to the scheme is or are chargeable to tax under Case VI of Schedule D by virtue of that section.
3
For the purposes of sub-paragraph (1)(b) an employee is taxed in respect of a sum or sums if—
a
the employee is assessed to tax by virtue of section 595 (1) of ICTA (charges on payments) in respect of the sum or sums, or
b
the sum or sums counts or count as employment income of the employee under section 386 (1) of ITEPA 2003 (charges on payments).
4
It is to be assumed, unless the contrary is shown, that neither paragraph 54 nor paragraph 55 has effect.