LegalizeThe Finance Act 2021, Schedule 5 (Pension Schemes: Collective Money Purchase Benefits) (Appointed Day) Regulations 2022
Made: 26th July 2022
The Treasury make these Regulations in exercise of the power conferred by paragraph 25 of Schedule 5 to the Finance Act 2021[^f00001].
Citation
1
These Regulations may be cited as the Finance Act 2021, Schedule 5 (Pension Schemes: Collective Money Purchase Benefits) (Appointed Day) Regulations 2022.
Appointed Day
2
1st August 2022 is appointed as the day on which the amendments made by Schedule 5 to the Finance Act 2021 come into force.
Signed
Scott Mann — Craig Whittaker — Two of the Lords Commissioners of Her Majesty’s Treasury — 26th July 2022
Explanatory note
(This note is not part of the Regulations)
EXPLANATORY NOTE
These Regulations provide that the appointed day for the amendments made by Schedule 5 to the Finance Act 2021 to come into force is 1st August 2022.
Schedule 5 to the Finance Act 2021 amends Part 4 of the Finance Act 2004 (c. 12) to provide for the tax treatment of collective money purchase arrangements and benefits, a new type of pension provision introduced by Parts 1 and 2 of the Pension Schemes Act 2021 (c. 1).
A Tax Information and Impact Note has not been prepared for these Regulations as they give effect to previously announced policy and are appointed day regulations.
Footnotes
[^f00001]: 2021 c. 26.
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