Statutory Instruments
2010 No. 536
Income Tax
The Taxation of Pensions Schemes (Rates, etc ) Order 2010
Made
2nd March 2010
Laid before the House of Commons
3rd March 2010
Coming into force
24th March 2010
Citation, commencement and effect
1. —(1) This Order may be cited as the Taxation of Pensions Schemes (Rates, etc) Order 2010 and shall come into force on 24th March 2010.
(2) This Order shall have effect for the tax year 2010-11 and subsequent tax years.
Amendment of section 394 of the Income Tax (Earnings and Pensions) Act 2003
2. In section 394(4) (charge on benefit to which this chapter applies) of the Income Tax (Earnings and Pensions) Act 2003 for “40%” substitute “50%”.
Amendment of section 205 of the Finance Act 2004
3. —(1)Section 205(4) (short service refund lump sum charge) of the Finance Act 2004 is amended as follows.
(2) In paragraph (a) for “£10,800” substitute “£20,000”.
(3) In paragraph (b) for “40%” substitute “50%”.
Dave Watts
Tony Cunningham
Two of the Lords Commissioners of Her Majesty’s Treasury
2nd March 2010
2003 c.1 .