Part 6

Employment income: income which is not earnings or share-related
Chapter 3

Payments and benefits on termination of employment etc.

Exceptions and reductions

Exception for contributions to registered pension schemes
408
1
This Chapter does not apply to a contribution to a registered pension scheme or an employer-financed retirement benefit scheme if the contribution is made—
a
as part of an arrangement relating to the termination of a person’s employment, and
b
in order to provide benefits for the person in accordance with the terms of the scheme or approved personal pension arrangements.
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 408(2) repealed (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 63(3), Sch. 42 Pt. 3 (with Sch. 36)
Words in s. 408(1) substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 63(2) (with Sch. 36)
Words in s. 408 heading substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 63(4) (with Sch. 36)
Words in s. 408(1) inserted (with effect in relation to any time on or after 6.4.2006 in accordance with art. 1(2) of the amending S.I.) by The Taxation of Pension Schemes (Consequential Amendments) (No. 2) Order 2006 (S.I. 2006/1963), arts. 1(1), 2(2)