Section 44: Interpretation of sections 38 to 44
194.This section is based on paragraphs 3 and 9 of Schedule 24 to FA 2003 and section 245(7) of FA 2004.
195.An “employer-financed retirement benefits scheme” means:
“a scheme for the provision of benefits consisting of or including relevant benefits to or in respect of employees or former employees of the employer
But neither
a registered pension scheme, nor
a section 615(3) [of ICTA] scheme,
is an employer-financed retirement benefits scheme.”