SE21801 - Benefits: pension provisions: pensions which will be payable to a member of an employee's family or household

Extra Statutory Concession A72

The statutory exemption of provisions for pensions described at SE21800 has been extended by Extra Statutory Concession ESC A72 to cover other members of a director's or employee's family or household.

The full text of the concession is

“Income Tax is not charged by virtue of Section 154 ICTA 1988, in respect of a benefit which consists of the provision by an employer of any pension, annuity, lump sum, gratuity or other like benefit to be given on an employee's death or retirement, for a member of the employee's family or household (as defined in Section 168(4) ICTA 1988).”