21 Pensions: special lump sum death benefits charge
Finance (No 2) Act 2015 (2015 c 33) | Legislation

Part 4 Income Tax, Corporation Tax and Capital Gains Tax

Income tax

21  Pensions: special lump sum death benefits charge

(1)     Section 206 of FA 2004 (special lump sum death benefits charge) is amended in accordance with subsections (2) to (5).

(2)     In each of subsections (1), (1A), (1B)(a) and (1C)(a) (which specify payments attracting the charge) after “paid” insert “, to a non-qualifying person,”.

(3)     In subsection (1B)(b) (payments attracting charge if paid more than 2 years after death of member under 75), before the “or” at the end of sub-paragraph (ii) insert—

“(iia)     a defined benefits lump sum death benefit,”.

(4)     In subsection (7) (sums taxed under section 206 not income for income tax purposes), at the end insert “(but see subsection (8)).”

(5)     After subsection (7) insert—

“(8)     Where—

(a)     a lump sum death benefit in respect of which tax is charged under this section is one paid to a non-qualifying person in the person's capacity as a trustee, and

(b)     a payment of any

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