Link Report

9A. Paragraph 9 ceases to have effect for payments made on or after the date of the passing of this Act on or after the date of the passing of the Finance Act 2013.

2. Any reference in this Schedule to a payment in respect of which income tax is chargeable under section 123 is a reference to so much of that payment as is chargeable to tax after deduction of the relief applicable to that payment under section 201(5).

4. Relief shall be allowed in accordance with this Schedule in respect of income tax chargeable by virtue of section 123 where a claim is duly made in accordance with section 201.

6. In computing the charge to tax in respect of a payment chargeable to income tax under section 123, a sum equal to the amount (if any) by which the standard capital superannuation benefit for the office or employment in respect of which the payment is made exceeds the basic exemption shall be deducted from the payment.

7. Where income tax is chargeable under section 123 in respect of 2 or more payments to which paragraph 6 applies, being payments made to or in respect of the same person in respect of the same office or employment or in respect of different offices or employments held under the same employer or under associated employers, then—

8. In computing the charge to tax in respect of a payment chargeable to income tax under section 123 in the case of a claimant, if the claimant has not previously in the previous 10 years of assessmen made a claim under section 201 and the relevant capital sum (if any) in relation to the office or employment in respect of which the payment is made does not exceed £4,000 €5,080 €10,000, subsection (5) of section 201 and paragraph 6 shall apply to that payment as if each reference in that subsection and in that paragraph to the basic exemption were a reference to the basic exemption increased by the amount by which £4,000 €5,080 €10,000 exceeds that relevant capital sum.

9. In computing the charge to tax in respect of a payment chargeable to income tax under section 123, being a payment made in respect of an office or employment in which the service of the holder includes foreign service, a sum which bears to the amount which would be chargeable to income tax apart from this paragraph the same proportion as the length of the foreign service bears to the length of the service before the relevant date shall be deducted from the payment (in addition to any deduction allowed under paragraphs 6 to 8 of this Schedule).

10. In the case of any payment in respect of which income tax is chargeable under section 123, relief shall be allowed by means of deduction from the tax chargeable by virtue of that section of an amount equal to the amount determined by the formula—

11. Where income tax is chargeable under section 123 in respect of 2 or more payments to or in respect of the same person in respect of the same office or employment and is so chargeable for the same year of assessment, those payments shall be treated for the purposes of paragraph 10 as a single payment of an amount equal to their aggregate amount.

12. Where income tax is chargeable under section 123 in respect of 2 or more payments to or in respect of the same person in respect of different offices or employments and is so chargeable for the same year of assessment, paragraphs 10 and 11 shall apply as if those payments were made in respect of the same office or employment.

13. (a) Notwithstanding section 201, paragraph 10 shall cease to apply to any payment of €200,000 or more which is made on or after 1 January 2013 and which is chargeable to income tax under section 123.

14. Notwithstanding section 201, paragraph 10 shall cease to apply to any payment which is made on or after 1 January 2014 and which is chargeable to income tax under section 123.

Section 201.

2. Any reference in this Schedule to a payment in respect of which income tax is chargeable under section 123 is a reference to so much of that payment as is chargeable to tax after deduction of the relief applicable to that payment under section 201(5).

4. Relief shall be allowed in accordance with this Schedule in respect of income tax chargeable by virtue of section 123 where a claim is duly made in accordance with section 201.

8. In computing the charge to tax in respect of a payment chargeable to income tax under section 123 in the case of a claimant, if the claimant has not previously in the previous 10 years of assessmen made a claim under section 201 and the relevant capital sum (if any) in relation to the office or employment in respect of which the payment is made does not exceed £4,000 €5,080 €10,000, subsection (5) of section 201 and paragraph 6 shall apply to that payment as if each reference in that subsection and in that paragraph to the basic exemption were a reference to the basic exemption increased by the amount by which £4,000 €5,080 €10,000 exceeds that relevant capital sum.

8. In computing the charge to tax in respect of a payment chargeable to income tax under section 123 in the case of a claimant, if the claimant has not previously in the previous 10 years of assessmen made a claim under section 201 and the relevant capital sum (if any) in relation to the office or employment in respect of which the payment is made does not exceed £4,000 €5,080 €10,000, subsection (5) of section 201 and paragraph 6 shall apply to that payment as if each reference in that subsection and in that paragraph to the basic exemption were a reference to the basic exemption increased by the amount by which £4,000 €5,080 €10,000 exceeds that relevant capital sum.

13. (a) Notwithstanding section 201, paragraph 10 shall cease to apply to any payment of €200,000 or more which is made on or after 1 January 2013 and which is chargeable to income tax under section 123.

14. Notwithstanding section 201, paragraph 10 shall cease to apply to any payment which is made on or after 1 January 2014 and which is chargeable to income tax under section 123.

by the holder in respect of the office or employment in pursuance of any scheme or fund described in section 778(1);

(b) Where, under the conditions or terms of any scheme or fund described in section 778(1), the holder of the office or employment is entitled to surrender irrevocably the option or right referred to in clause (c) of the definition of “the relevant capital sum in relation to an office or employment” and has done so at the relevant date, the relevant capital sum in relation to an office or employment shall not include the amount mentioned in that clause.

T is the aggregate of the amounts of income tax chargeable income tax payable in respect of the total income of the holder or past holder of the office or employment for the 5 years 3 years of assessment preceding the year of assessment of which the payment is treated as income before taking account of any relief provided by section 826, and