This is the amount of any increase in the value of the individual's rights under the arrangement during the ‘pension input period’ (see ¶386-250) of the arrangement ending in the tax year (FA 2004, s. 230(1)–(3)).

The value of the individual's rights is the amount which would, on the ‘valuation assumptions’ (see ¶392-200), be available for the provision of benefits on the assumption that he became entitled to them:

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