Section 7 Finance (No2) Act 2005

Section 1(1)(b)(ii) ICTA 1988

Section 835 ICTA 1988

Section 577(1A) ITEPA 2003

See EIM74650 for an overview of the state pension lump sum option introduced from 6 April 2005.

Section 7(1) Finance (No2) Act 2005 confirms that a charge to Income Tax arises when a person becomes entitled to a state pension lump sum. But section 7(2)(b) advises that any state pension lump sum shall not be taken into account when determining the person's total income.

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