PSI17.2.20 - Tax Treatment of Approved Schemes and Payments by Approved Schemes: Taxation of Payments to Scheme Members - Tax on Certain Commutation payments - Two or More Schemes

(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)

[PN17.28]

Where an employee takes a lump sum in full commutation of pension under two or more separate schemes relating to the same employment, the calculation of section 599 tax should be based on the aggregate of lump sums payable, with each scheme being liable for the relevant proportion of the total tax payable.

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