Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 408: Exception for contributions to tax-exempt pension schemes
1770.This section derives from Inland Revenue Statement of Practice 2/1981, which excepts special contributions to approved schemes and payments for the purchase of an annuity under an approved transaction.
1771.Subsection (1) sets out the type of contribution which is excepted.
1772.Subsection (2) provides signposts to the definitions of terms used.
1773.This is a minor change to the law. See Change 108 in Annex 1.