(1) Without prejudice to any other provisions of the Tax Acts including, in particular, any other provision of those Acts relating to a charge to tax -
(a) the whole of the amount of a chargeable excess calculated in accordance with section 787Q, without any relief or reduction specified in the Table to section 458 or any other deduction from that amount, shall be chargeable to income tax under Case IV of Schedule D at the higher rate for the tax year (within the meaning of section 787TA(1)) in which the benefit crystallisation event giving rise to the chargeable excess occurs, and
(b) section 188 shall not apply as regards income tax so charged.
(2) Subject to subsection (2A)(d), the persons liable for income tax charged under subsection (1) shall be the administrator of the relevant pension arrangement under which the benefit crystallisation event arises and the individual in relation to whom the benefit crystallisation event occurs and their liability shall be joint and several.
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