🔆 📖 ➕ 👤

Statutory Instruments

2020 No. 1198

Income Tax

The Coronavirus Life Assurance Scheme (Northern Irish Scheme) (Excluded Benefits for Tax Purposes) Regulations 2020

Made

at 9.30 a.m. on 3rd November 2020

Laid before the House of Commons

at 1.00 p.m. on 3rd November 2020

Coming into force

5th November 2020

The Commissioners for Her Majesty’s Revenue and Customs, in exercise of the powers conferred by section 393B(3)(d) and (4A) of the Income Tax (Earnings and Pensions) Act 2003( 1 ), and now exercisable by them( 2 ), make the following Regulations:

Citation commencement and effect

1. —(1) These Regulations may be cited as the Coronavirus Life Assurance Scheme (Northern Irish Scheme) (Excluded Benefits for Tax Purposes) Regulations 2020 and shall come into force on 5th November 2020.

(2) Regulation 2 has effect for the tax year 2020–21 and subsequent tax years.

Benefits excluded from charge under Chapter 2 of Part 6 of ITEPA 2003

2. A lump sum provided under the Health and Social Care Coronavirus Life Assurance (Northern Ireland) Scheme 2020( 3 ) is prescribed 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 purposes of Chapter 2 of Part 6 of that Act).

Angela MacDonald

Justin Holliday

Two of Her Majesty’s Commissioners for Revenue and Customs

At 9.30 a.m. on 3rd November 2020

( 1 )

2003 c. 1 . Section 393B was inserted, by way of substitution for section 393 as originally enacted, by section 249(3) of the Finance Act 2004 (c. 12) . Subsection (4A) was inserted by paragraph 21 of Schedule 20 to the Finance Act 2007 (c. 11) .

( 2 )

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) .

( 3 )

This scheme was established on 21st September 2020 and is available on the website of the HSC Business Services Organisation at http://www.hscpensions.hscni.net/download/coronavirus_scheme/HSC-Life-Assurance-Scheme-Business-Rules.DOCX . Hard copies of the scheme are available on request from the HSC Pension Service, Waterside House, 75 Duke Street, Londonderry, BT47 6FP.

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Coronavirus Life Assurance Scheme (Northern Irish Scheme) (Excluded Benefits for Tax Purposes) Regulations 2020 (2020/1198)

Displaying information

Status of this instrument

footnotecommentarytransitional and savingsin force statusrelated provisionsgeo extentinsert/omitsource countin force adj
Defined TermSection/ArticleIDScope of Application

Status of changes to instrument text

The list includes made instruments, both those in force and those yet to come into force. Typically, instruments that are not yet in force (hence their changes are not incorporated into the text above) are indicated by description 'not yet' in the changes made column.