Income Tax (Earnings and Pensions) Act 2003 section 621

Taxable pension income

Section 621 establishes how to calculate the taxable pension income arising from payments made under the House of Commons Members' Fund.

• Where section 619 applies, pension payments from the House of Commons Members' Fund are subject to income tax.
• The taxable amount is simply the total of all payments received during the tax year in question.
• Tax is charged on the full amount paid — there are no deductions or reductions to apply at this stage.
• The resulting figure feeds into the broader computation of net taxable pension income under section 567.