Part 2 Commencement and Transitional Provision
Finance Act 2011 (2011 c 11) | Legislation

Part 2 Commencement and Transitional Provision

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(1)     The amendments made by Part 1 have effect for the tax year 2011–12 and subsequent tax years.

(2)     Apart from the amendments made by paragraph 16(2) and (4), such of the amendments as apply in relation to pension input periods have effect in relation to pension input periods ending in the tax year 2011–12 but beginning earlier (as well as those beginning in that tax year).

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(1)     This paragraph applies where—

(a)     the pension input period in respect of any arrangement relating to the individual which ends in the tax year 2011–12 begins before 14 October 2010 (a “straddling pension input periodâ€), and

(b)     the total pension input amount in the case of the individual for that tax year exceeds £50,000.

(2)     The following provisions apply for arriving at the amount in respect of which the annual allowance charge is charged for that tax year (instead of the charge being in respect of the amount by which the total pension input amount exceeds the amount of the annual allowance).

(3)     Treat each straddling pension input period as if it were 2 separate pension input periods—

(a)     one beginning when the

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