Finance Act 2004, Section 180(5) (Modification) Regulations 2012 come into force
Implementation date: 1 June 2012
The Regulations ensure that pension schemes established under s.67 of the Pensions Act 2008 will not become liable to income tax solely by reason of their buying shares in sponsoring employers when such shares already make up at least 20% of the total market value of the scheme’s sums and assets. The National Employment Savings Trust is the only scheme established under s.67 of the Pensions Act 2008. The Regulations can be viewed on the UK legislation website.