Section 22 | Section 349B ICTA: exemption for distributions to PEP/ISA managers

(1)Section 349B(4) of ICTA (requirement for individual to be entitled to income tax exemption) shall be amended as follows.

(2)In paragraph (a) after “of a plan” insert “ of a kind to which regulations under Chapter 3 of Part 6 of ITTOIA 2005 (income from individual investment plans) apply ”.

(3)Paragraph (b) shall cease to have effect.

(4)This section shall have effect in relation to payments made on or after 6th April 2005.