Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 624: Taxable pension income
2479.This section sets out the basis of assessment. It identifies the amount of taxable pension income, which feeds into the computation of net taxable pension income in section 567.
2480.It derives from section 599A(5). Tax is charged on the grossed up amount of the payments made in the tax year.