(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000)
Tax relief under section 592 ICTA 1988 is available only
where the scheme’s income or gains arise from investments,
deposits or underwriting commission. Other types of yield received
by the scheme may not be exempt from income tax or capital gains
tax. A decision whether a particular source of income is exempt
from tax under section 592(2) or (3) and section 271(1)(g) Taxation
of Chargeable Gains Act 1992 is a matter for the Scheme District
and not us. Enquiries about the taxation of a scheme’s income
or gains should normally be referred to the District concerned
unless they relate to foreign dividends or exempt unit trusts (see
Part 22).
