192 Relief at source
Finance Act 2004 (2004 c 12) | Legislation

192  Relief at source

(1)     Where an individual is entitled to be given relief in accordance with this section in respect of the payment of a contribution under a pension scheme, the individual or other person by whom the contribution is paid is entitled, on making the payment, to deduct and retain out of it a sum equal to income tax on the contribution [at the relevant rate].

[(1A)     For the purposes of this section and sections 192A and 192B “the relevant rate” is—

(a)     if the Commissioners for Her Majesty's Revenue and Customs so notify the scheme administrator, the Scottish basic rate for the tax year in which the payment is made;

[(aa)     if the Commissioners for Her Majesty's Revenue and Customs so notify the scheme administrator, the Welsh basic rate for the tax year in which the payment is made;] and

(b)     the basic rate for that tax year in all other cases.]

(2)     If a sum is deducted from the payment of the contribution—

(a)     the scheme administrator must allow the deduction on receipt of the residue,

(b)     the individual or other person is acquitted and discharged of so much

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