Part 1 Charges Where Payments Made in Respect of Overseas Pensions
Finance Act 2017 (2017 c 10) | Legislation

SCHEDULE 4 Pensions: Offshore Transfers

Section 10

Part 1 Charges Where Payments Made in Respect of Overseas Pensions

Amendments of Schedule 34 to FA 2004

1

Schedule 34 to FA 2004 (non-UK pension schemes: application of certain charges) is amended as follows.

2

(1)     Paragraph 1 (application of member payment charges to relevant non-UK schemes) is amended as follows.

(2)     After sub-paragraph (6) insert—

“(6A)     There are three types of relevant transfer—

(a)     an original relevant transfer,

(b)     a subsequent relevant transfer, and

(c)     any other (including, in particular, all relevant transfers before 9 March 2017).

(6B)     “An original relevant transfer†is—

(a)     a relevant transfer within sub-paragraph (6)(a) made on or after 9 March 2017,

(b)     a relevant transfer within sub-paragraph (6)(b), made on or after 9 March 2017, of the whole or part of the UK tax-relieved fund of a relieved member of a qualifying recognised overseas pension scheme, or

(c)     a relevant transfer within sub-paragraph (6)(b), made on or after 6 April 2017, of the whole or part of the UK tax-relieved fund of a relieved member of a relevant non-UK scheme that is not a qualifying recognised overseas pension scheme.

(6C)

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