Schedule 2 - Estates in administration and trusts

Finance (No. 2) Bill – in a Public Bill Committee at 10:45 am on 16 May 2023.

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Amendment made: 4, in schedule 2, page 291, line 38, at end insert—

“(za) the property comprised in the settlement is not held for a pensions purpose within the meaning of paragraph 7(3) of Schedule 1C to TCGA 1992 (property comprised in settlements held for a pensions purpose);”—(

This amendment would mean that a pensions settlement could not be a “qualifying settlement” for the purposes of section 24B of the Income Tax Act 2007 (being inserted by the Bill) or a “relevant settlement” in respect of which the conditions in subsection (9) of that section could be met.