SCHEDULES

Part 4U.K.Amount and timing of unauthorised payment

Apportionment to pension schemeU.K.

42(1)References in this Schedule to the extent of an interest held directly by a person in a vehicle are references to the proportion of the interests of everyone who directly holds an interest in the vehicle which on a just and reasonable apportionment is represented by that interest.U.K.

(2)Sub-paragraph (1) is subject to paragraph 43, which explains how to determine the extent of a person's interest in a vehicle for the purposes of the taxable property provisions where the vehicle is a company.

(3)The Treasury may by regulations—

(a)amend paragraph 43, or

(b)amend this Part of this Schedule for the purposes of explaining how to determine the extent of a person's interest in a vehicle in other cases.

(4)Regulations under sub-paragraph (3) may include provision having effect in relation to times before they are made.]