Scheme chargeable payments are liable to the scheme sanction charge (see ¶383-700), they comprise:

unauthorised payments (see ¶381-000 and ¶381-500) other than ones which are exempt (see below);

deemed payments arising in respect of unauthorised borrowing (see ¶381-800 and ¶381-850), and

deemed payments arising where an investment-regulated pension scheme (see ¶375-400) holds an interest in ‘taxable property’ (see ¶382-500) or realises a gain from such property (see ¶382-750)

(FA 2004, s. 241(1)).

An unauthorised payment is exempt for these purposes if:

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