Part 3 Uncrystallised Rights At Member's Death
Taxation of Pensions Act 2014 (2014 c 30) | Legislation

Part 3 Uncrystallised Rights At Member's Death

21

In section 216(1) of FA 2004 (benefit crystallisation events and amounts crystallised), in the table, after the entry relating to benefit crystallisation event 5B insert—

“5C. The designation, on or after 6 April 2015 but before the end of the relevant two-year period, of relevant unused uncrystallised funds as available for the payment, to a dependant or nominee of the individual, of (as the case may be) dependants' flexi-access drawdown pension or nominees' flexi-access drawdown pensionThe aggregate of the amount of the sums and the market value of the assets designatedâ€

22

(1)     Section 217 of FA 2004 (persons liable to lifetime allowance charge) is amended as follows.

(2)     After subsection (1) insert—

“(1A)     Subsection (1) is subject to subsections (2) and (2A).â€

(3)     In subsection (2) for “But where†substitute “Whereâ€.

(4)     After subsection (2) insert—

“(2A)     Where the liability arises by reason of a designation

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Pension commencement lump sums (PCLSs)

Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part as a tax-free lump sum. HMRC calls this a ‘pension commencement lump sum’ (PCLS). Taking a lump sum is usually at the option of the member who will

LEXISNEXIS

Standard of care in professional negligence claims

Standard of care in professional negligence claimsThis Practice Note considers the standard of care in professional negligence claims, originally formulated in Bolam v Friern Hospital as being that of reasonable skill and care but now reconsidered following Montgomery v Lanarkshire Health. It

LEXISNEXIS

The Standard Provisions of the Society of Trust and Estate Practitioners (STEP)

The Standard Provisions of the Society of Trust and Estate Practitioners (STEP)FORTHCOMING CHANGE: The Society of Trust and Estate Practitioners (STEP) is currently reviewing and revising the STEP Standard provisions and intends to release the 3rd edition later in 2021.Trustees' powersAs trusts can

LEXISNEXIS

Arms length management organisations (ALMOs)

Arms length management organisations (ALMOs)An arms length management organisation (ALMO) is a not-for-profit company that provides housing services on behalf of a local housing authority (LHA). Usually an ALMO is set up by the LHA to manage and improve all or part of its housing stock with the LHA