Finance Act 2021 (c. 26)

SCHEDULES

SCHEDULE 5 U.K. Pension schemes: collective money purchase benefits

PART 1 U.K. Amendments of Part 4 of FA 2004

13 (1) Section 227B (the alternative chargeable amount) is amended as follows. U.K.

(2) In subsection (2), for “AA” (in both places it occurs) substitute “ X ”.

(3) In subsection (5), in paragraph (b)(i), after “A” insert “ , AA ”.

(4) In subsection (5), in paragraph (b)(ii)—

(a) after “greater” insert “ or greatest ”;

(b) after “A” insert “ , AA ”;

(c) for “both” substitute “ at least two of those amounts ”.

(5) In subsection (5), in the closing words—

(a) after “A” (in both places it occurs) insert “ , AA ”;

(b) after “greater” insert “ or greatest ”.

Commencement Information

I1 Sch. 5 para. 13 in force at 1.8.2022 for the purposes of the amendments made by that paragraph by S.I. 2022/874, reg. 2