Part 1 “Fixed Protection 2016”
Finance Act 2016 (2016 c 24) | Legislation

SCHEDULE 4 Pensions: [Lump Sum Allowance and Lump Sum and Death Benefit Allowance]: Transitional Provision

Section 19

Part 1 “Fixed Protection 2016”

The protection

1

(1)     Sub-paragraph (2) applies at any particular time on or after 6 April 2016 in the case of an individual if—

(a)     each of the conditions specified in paragraph 2 is met,

(b)     there is no protection-cessation event (see paragraph 3) in the period beginning with 6 April 2016 and ending with the particular time,

(c)     paragraph 1(2) of Schedule 6 to FA 2014 (“individual protection 2014”) does not apply in the individual's case at the particular time, and

(d)     at the particular time or any later time, the individual has a reference number (see Part 3 of this Schedule) for the purposes of sub-paragraph (2).

[(2)     Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes) has effect in relation to the individual as if—

(a)     the amount specified in section 637P of that Act (individual's lump sum allowance) were £312,500, and

(b)     the amount specified in section 637R of that Act (individual's lump sum and death benefit allowance) were—

(i)     if one or

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