Legislation – Finance Act 2024
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There are currently no known outstanding effects for the Finance Act 2024, Paragraph 63.
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Schedule 9Pensions
Part 4Transitional protections
Amendments of Schedule 29 to FA 2004
63
(1)
In Schedule 29 to FA 2004 (registered pension schemes: authorised lump sums: supplementary), paragraph 4A (uncrystallised funds pension lump sum) is amended as follows.
(2)
In sub-paragraph (1)—
(a)
at the end of paragraph (e) insert “and”
;
(b)
omit the “and” at the end of paragraph (f);
(c)
omit paragraph (g).
(3)
Omit sub-paragraphs (3) to (6).
(4)
“(8)
For further provision about circumstances in which a lump sum is not an uncrystallised funds pension lump sum, see the following provisions of Part 2 of Schedule 36 (transitional provision and saving: pre-commencement rights: enhancement of allowances)—
(a)
paragraph 7(8) (enhancement of allowances: primary protection);
(b)
paragraph 12(3H) (enhancement of allowances: enhanced protection);
(c)
paragraph 18(7) (enhancement of allowances: pre-commencement pension credits);
(d)
paragraph 20A(8) (pension credits from previously crystallised rights);
(e)
paragraph 20B(8) (individuals who are not always relevant UK individuals);
(f)
paragraph 20E(9) (transfers from recognised overseas pension schemes).”