Part 1 “Fixed Protection 2014”
Finance Act 2013 (2013 c 29) | Legislation

SCHEDULE 22 Transitional Provision Relating to Reduction in Standard Lifetime Allowance etc

Section 48

Part 1 “Fixed Protection 2014”

1

(1)     This paragraph applies on or after 6 April 2014 in the case of an individual—

(a)     who, on that date, has one or more arrangements under—

(i)     a registered pension scheme, or

(ii)     a relieved non-UK pension scheme of which the individual is a relieved member,

(b)     in relation to whom paragraph 7 of Schedule 36 to FA 2004 (primary protection) does not [apply on that date],

(c)     in relation to whom paragraph 12 of that Schedule (enhanced protection) does not apply on that date, and

(d)     in whose case paragraph 14 of Schedule 18 to FA 2011 (transitional provision relating to new standard lifetime allowance for the tax year 2012–13) does not apply on that date,

if notice of intention to rely on it is given to an officer of Revenue and Customs.

[(2)     Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes) has effect in relation to the individual as if—

(a)     the amount specified in section 637P of that Act (individual's lump sum allowance) were £375,000,

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