The Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) Regulations 2006

• Citation: S.I. 2006/210
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) Regulations 2006 and come into force on 6th April 2006.

Section 2 Excluded benefit

(1) For the purposes of section 393B(3)(d) of the Income Tax (Earnings and Pensions) Act 2003 (prescribed benefits to be excluded benefits for the purpose of Chapter 2 of Part 6 of that Act) a lump sum benefit which is—

(a) in respect of the non-accidental death of an employee during service, and

(b) already provided for under the rules of a scheme on 6 th April 2006,

is prescribed.

(2) In paragraph (1) “scheme” means any scheme which, on 6th April 2006—

(a) will be an employer–financed retirement benefits scheme, or

(b) would be such a scheme but for the fact that it provides for a benefit which is an excluded benefit by virtue of this regulation.

(3) In paragraph (2) “employer–financed retirement benefits scheme” has the meaning given in section 393A of the Income Tax (Earnings and Pensions) Act 2003.