| [s186] |
Income derived from investments or deposits held for the
purposes of a
registered pension scheme is exempt from income
tax. However, there is an exception to this normal rule in relation
to income derived from investments or deposits held by a registered
pension scheme as a member of a property investment
LLP.
Income from a trading activity undertaken by a registered
pension scheme is not investment income and so does not qualify for
this tax exemption.
Stock lending fees and income derived from futures and option
contracts might normally be considered trading income. However,
subject to special rules, such income in relation to registered
pension schemes can qualify for tax relief. See
RPSM04103040 and
RPSM04103050 for more information.
Underwriting commissions, to the extent that they are applied
for the purposes of the scheme and would otherwise be chargeable
under Case VI of Schedule D are also exempt from income tax. There
is an exception to this normal rule for tax exemptions in relation
to property investment LLPs - see
RPSM04103060.
| Glossary ( RPSM20000000) |
