Income Tax (Earnings and Pensions) Act 2003 section 395A

Benefits under old section 222 schemes not taxed by virtue of section 394

Section 395A exempts benefits from certain historic employer-financed retirement benefits schemes from the income tax charge that would otherwise apply under section 394, provided the scheme meets all of four specified conditions.

• The scheme must have been approved under section 222 of ICTA 1970 immediately before 6 April 1980
• The scheme must not have been approved under the separate registered scheme rules in Chapter II of Part II of Finance Act 1970
• No material changes must have been made to the terms on which benefits are provided under the scheme after 5 April 1980
• No contributions must have been paid into the scheme after 5 April 1980