Statutory Instruments
2006 No. 210
INCOME TAX
The Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) Regulations 2006
Made
1st February 2006
Laid before the House of Commons
2nd February 2006
Coming into force
6th April 2006
Citation and commencement
1. These Regulations may be cited as the Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) Regulations 2006 and come into force on 6th April 2006.
Excluded benefit
2. —(1) For the purposes of section 393B(3)(d) of the Income Tax (Earnings and Pensions) Act 2003 (prescribed benefits to be excluded benefits for the purpose of Chapter 2 of Part 6 of that Act) a lump sum benefit which is—
(a) in respect of the non-accidental death of an employee during service, and
(b) already provided for under the rules of a scheme on 6 th April 2006,
is prescribed.
(2) In paragraph (1) “scheme” means any scheme which, on 6th April 2006—
(a) will be an employer–financed retirement benefits scheme, or
(b) would be such a scheme but for the fact that it provides for a benefit which is an excluded benefit by virtue of this regulation.
(3) In paragraph (2) “employer–financed retirement benefits scheme” has the meaning given in section 393A of the Income Tax (Earnings and Pensions) Act 2003 .
David Varney
Mike Hanson
Two of the Commissioners for Her Majesty’s Revenue and Customs
1st February 2006
The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5(2) of the Commissioners for Revenue and Customs Act 2005 (c. 11) . Section 50(1) of that Act provides that a reference to the Commissioners of Inland Revenue (however expressed) shall be taken as a reference to the Commissioners for Her Majesty’s Revenue and Customs.
2003 c. 1 : section 393B was inserted, together with section 393A, by way of substitution for section 393 as originally enacted, by section 249(3) of the Finance Act 2004 (c. 12) .