§ 6A.—(1) There is no charge to tax under this Part of this Schedule on the surrender of the unit if—
- (a) immediately before the surrender, the unit is held within an individual pension account,
- (b) not all the units under the unit trust scheme are so held at that time, and
- (c) a certificate pursuant to sub-paragraph (2) is contained in, or provided with, the relevant monthly tax return.
§ (2) The certificate must be given by the persons making the relevant monthly tax return and must state—
- (a) that at all times in the period to which the return relates the trustees or managers were able to identify which of the units under the scheme were held within individual pension accounts, and
- (b) that at no time in that period have the trustees or managers imposed any charge on, or recovered any amount from, an IPA unit holder which included an amount directly or indirectly attributable to tax payable by the trustees under this Part of this Schedule.
§ (3) In sub-paragraph (2), "IPA unit holder" means—
- (a) a person acquiring, or who has acquired, a unit under the unit trust scheme, where the unit is to be held within an individual pension account,
- (b) a person holding a unit under the scheme, where the unit is held within an individual pension account, or
- (c) a person surrendering, or who has surrendered, a unit under the scheme, where immediately before the surrender the unit is or was held within an individual pension account.
(4) In this paragraph—
individual pension account" has the same meaning as in regulations under section 638A of the Taxes Act 1988 (as at 6th April 2001, see regulation 4 of the Personal Pension Schemes (Restriction on Discretion to Approve) (Permitted Investments) Regulations 2001);
the relevant monthly tax return", in the case of any surrender, means the notice required by regulations under section 98 of the Finance Act 1986 to be given by the managers (or, failing that, the trustees) under the unit trust scheme to the Commissioners of Inland Revenue containing among other things details of all surrenders in the relevant two-week period;
the relevant two-week period" has the meaning given by paragraph 4(2).".
§ (5) The amendment made by paragraph (3) of this Resolution shall have effect where the relevant two-week period mentioned in paragraph 4(1) of Schedule 19 to the Finance Act 1999 ends after 6th April 2001.
§ (6) The other amendments made by this Resolution shall have effect in relation to surrenders made or effected on or after 6th April 2001.