Search Legislation

The Pensions Schemes (Taxable Property Provisions) Regulations 2006

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)

Opening Options

 Help about opening options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Application of paragraphs 3 and 4 of Schedule 17A to the Finance Act 2003

This sectionnoteType=Explanatory Memorandum has no associated

7.  (1)  The following provisions—

(a)paragraph 3(1) and (2) of Schedule 17A to the Finance Act 2003 (leases that continue after a fixed term), and

(b)paragraph 4(1), (2) and (5) of that Schedule (treatment of leases for indefinite term),

apply for the purposes of paragraph 34(2) of Schedule 29A, for determining the amount of rent payable, with the following modifications.

(2) Each extension of the original fixed term by paragraph 3(2) or 4(1) of Schedule 17A shall be treated as the grant of a new lease for the period of the extension.

(3) Accordingly, an investment-regulated pension scheme is to be treated as making an unauthorised payment within section 174A(1)(1) to a member of the scheme, on the occasion of each such extension.

(1)

Section 174A was inserted by paragraph 5 of Schedule 21 to the Finance Act 2006.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enactedversion that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources