Trivial commutation and winding-up lump sumsU.K.
59U.K.In section 636B(3) of ITEPA 2003 (trivial commutation and winding-up lump sums: taxable pension income to be 75% of lump sum where member has not become entitled to any benefits under pension scheme), for the words after “member” substitute “has uncrystallised rights (within the meaning of section 212 of FA 2004) under any one or more arrangements under the pension scheme, the amount of the taxable pension income—
(a)if all his rights under the pension scheme are uncrystallised rights, is 75% of the lump sum, and
(b)otherwise, is reduced by 25% of the value of the uncrystallised rights calculated in accordance with that section.”
Commencement Information
I1Sch. 10 para. 59 in force at 6.4.2006, see Sch. 10 para. 64(1)