Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 651: Overseas Pensions Act 1973
2572.This section exempts pensions paid under section 1 of the Overseas Pension Act 1973. It derives from section 615(2)(d) of ICTA.
2573.Subsection (2) prevents the exemption applying to any part of the pension paid under the Pensions (Increase) Acts. It derives from section 615(4) of ICTA. These increases have always been paid by the United Kingdom government and have always been taxed under Schedule E as United Kingdom pensions.