Part 4

Pensions

Power to make further provision about section 67 pension scheme
70
1
The Treasury may by regulations make provision for and in connection with—
a
the application of the relevant taxes in relation to a pension scheme established under section 67 of the Pensions Act 2008, and
b
the application of the relevant taxes in relation to any person in connection with such a pension scheme.
2
The provision that may be made by regulations under this section includes provision imposing any of the relevant taxes (as well as provisions for exemptions or reliefs).
3
The relevant taxes are—
a
income tax,
b
capital gains tax,
c
corporation tax, and
d
inheritance tax.
4
Regulations under this section may include provision having effect in relation to any time before they are made if the provision does not increase any person's liability to tax.
5
Regulations under this section may include—
a
provision amending any enactment or instrument, and
b
consequential, supplementary and transitional provision.
6
Regulations under this section are to be made by statutory instrument.
7
A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.