Taxation of Pensions Act 2014 (c. 30)

SCHEDULES

SCHEDULE 1 Pension flexibility etc

Part 1 Drawdown pensions

Related amendment in Part 9 of ITEPA 2003

31 In section 636A of ITEPA 2003 (taxation of pension lump sums)—

(a) in subsection (4) (lump sum taxable under section 206 of FA 2004 but not otherwise) omit the “or” at the end of paragraph (b), and after paragraph (c) insert “or

(d) a flexi-access drawdown fund lump sum death benefit,”, and

(b) in subsection (7) (definitions) after ““drawdown pension fund lump sum death benefit”,” insert—

• ““flexi-access drawdown fund lump sum death benefit”,”.