The Taxation of Pension Schemes (Consequential Amendments) (No. 2) Order 2006

• Citation: S.I. 2006/1963
• Sections: 4

Section 1 Citation, commencement and effect

(1) This Order may be cited as the Taxation of Pension Schemes (Consequential Amendments) (No. 2) Order 2006 and shall come into force on 11th August 2006.

(2) Article 2 of this Order has effect in relation to any time on or after 6 th April 2006.

Section 2 Consequential amendment of section 408 of the Income Tax (Earnings and Pensions) Act 2003

(1) Section 408(1) of the Income Tax (Earnings and Pensions) Act 2003 is amended as follows.

(2) After “registered pension scheme” insert “or an employer-financed retirement benefit scheme”.

Section 3 Consequential amendment to section 128 of the Finance Act 1995

(1) Section 128 (limit of income chargeable on non-residents: income tax) of the Finance Act 1995 is amended as follows.

(2) In subsection (3)(cc) after the words “section 577” omit “or 605” and omit “and retirement annuity contracts”.

(3) After subsection (3)(cc) insert—

(cca) it is chargeable to tax under chapter 5A, Part 9 of ITEPA 2003 because it is a pension under a registered pension scheme where that scheme—

(i) falls within paragraph 1(1)(f) of Schedule 36 of the Finance Act 2004, and

(ii) was, immediately before 6 th April 2006, a retirement annuity contract to which section 605 of ITEPA 2003 applied;

Section 4 Consequential amendment to section 336 of the Income and Corporation Taxes Act 1988

(1) Section 336 (temporary residents in the United Kingdom) of the Income and Corporation Taxes Act 1988 is amended as follows.

(2) In subsection (1A) (b) (ia) omit the words “an annuity contract that is” and after the words “registered pension scheme” insert “that fell within paragraph 1(1)(f) of Schedule 36 to the Finance Act 2004”.