Finance Act 2024

Amendments of Part 9 of ITEPA 2003

40 (1) Section 566 (nature of charge to tax on pension income and relevant definitions) is amended as follows.

(2) In subsection (3), for “16” substitute “15A”.

(3) In the table in subsection (4)—

(a) after the entry for section 633 insert—

“Section 637B

Pensions treated as arising from payment of pension commencement excess lump sums under registered pension schemes

Chapter 15A”

(b) in the entry for section 636B, in the first column, for “636B” substitute “637G”.

(c) in the entry for section 636C—

(i) in the first column, for “636C” substitute “637N”;

(ii) in the second column omit “and winding-up lump sum death benefits”.