SCHEDULES
SCHEDULE 18Lifetime allowance charge
Part 1Amendments
5
1
Paragraph 10 (winding-up lump sum) is amended as follows.
2
In sub-paragraph (2), for “1% of the standard lifetime allowance when the lump sum is paid,” substitute “£18,000,”.
3
After that sub-paragraph insert—
2A
The Treasury may by order substitute for the amount for the time being specified in sub-paragraph (2) such larger amount as is specified in the order.