Income Tax (Trading and Other Income) Act 2005 section 13–15

Employee benefit contributions

Sections 13 to 15 of Schedule 2 set out transitional rules governing when and how the employee benefit contribution deduction restrictions in sections 38 to 44 apply, including commencement dates, adaptations for the period before ITEPA 2003 came into force, and modifications for the period before the pension tax simplification regime took effect on 6th April 2006.

• The deduction restrictions in sections 38 to 44 do not apply to periods ending before 27th November 2002 or to employee benefit contributions made before that date
• For any time before ITEPA 2003 came into force, references to tax under ITEPA 2003 are read as references to income tax under the former Schedule E, and the timing rules refer back to the old receipts basis of assessment provisions in ICTA
• For periods before 6th April 2006, sections 38 to 44 apply with modifications that replace references to registered pension schemes and employer-financed retirement benefits schemes with references to the earlier retirement benefits scheme and approved personal pension scheme regimes under ICTA
• The Treasury's order-making powers under sections 281 and 283 of Finance Act 2004 operate as though the pension simplification consequential amendments schedule already included the substitution of the full versions of sections 38 to 44 for the pre-6th April 2006 modified versions