SCHEDULES

SCHEDULE 5Pension schemes: collective money purchase benefits

PART 1Amendments of Part 4 of FA 2004

I113

1

Section 227B (the alternative chargeable amount) is amended as follows.

2

In subsection (2), for “AA” (in both places it occurs) substitute “ X ”.

3

In subsection (5), in paragraph (b)(i), after “A” insert “ , AA ”.

4

In subsection (5), in paragraph (b)(ii)—

a

after “greater” insert “ or greatest ”;

b

after “A” insert “ , AA ”;

c

for “both” substitute “ at least two of those amounts ”.

5

In subsection (5), in the closing words—

a

after “A” (in both places it occurs) insert “ , AA ”;

b

after “greater” insert “ or greatest ”.