Section 779 Charge to income tax of pensions under Schedule E
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(1) Subject to subsection (2), pensions paid under any scheme, including an overseas pension scheme, which is approved or is being considered for approval under this Chapter shall, notwithstanding anything in section 18 or 19, be charged to tax under Schedule E, and Chapter 4 of Part 42 shall apply accordingly.
Amendments
Subs (1) substituted by Finance Act 2005 section 21(1)(a)(v) as respects any retirement benefits scheme approved on or after 1 January 2005.
(2) In respect of any scheme which is approved or is being considered for approval under this Chapter, the Revenue Commissioners may direct that until such date as they may specify pensions under the scheme shall be charged to tax as annual payments under Case III of Schedule D, and tax shall be deductible under section 237 or 238 accordingly.
Can pensions ever be taxed as Case III income?
(2) Revenue may direct that pensions payable under a Revenue approved scheme or a scheme that is being considered for approval are to be taxed as annual payments under Schedule D Case III. Therefore, as the payer, you must deduct tax at the standard ...
