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
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
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 Section 393B was inserted, by way of substitution for section 393 as originally enacted, by section 249(3) of the Finance Act 2004 (c. 12) .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) .
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) .
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.