Schedules

Schedule 9Pensions

Part 3Non-UK schemes

61Amendments of Chapter 4 of Part 9 of ITEPA 2003

1

In Chapter 4 of Part 9 of ITEPA 2003 (foreign pensions), section 574A (“pension”: relevant lump sums) is amended as follows.

2

After subsection (2) insert—

2A

A lump sum is not “a relevant lump sum” by virtue of subsection (2) if it is within paragraph 5ZA(1)(a) or (b) of Schedule 34 to FA 2004 (which specify certain lump sums paid to or in respect of transfer members of relevant non-UK schemes).

3

In subsection (3), in Step 3—

a

in paragraph (a) for “section 636B(3)” substitute “section 637G(2)”;

b

in paragraph (b), for “all or part of the member’s lifetime allowance is available” substitute “all of the member’s lump sum allowance is available”.