Application of PAYE to certain annuities in payment at commencement
46(1)Taxable pension income for the tax year 2006-07 or any subsequent tax year determined in accordance with section 612 of ITEPA 2003 for an annuity to which this paragraph applies is to be treated as being PAYE pension income for the tax year by virtue of section 683(3) of that Act (PAYE income).
(2)This paragraph applies to an annuity in payment on 5th April 2006 which—
(a)would be within paragraph 1 (1) but for paragraph 2, or
(b)would be within paragraph 1(1)(d) if the annuity did not provide for the immediate payment of benefits.