- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
5(1)For the purposes of this Schedule an overseas pension scheme is a qualifying overseas pension scheme if—
(a)the scheme manager has given to the Inland Revenue notification that it is an overseas pension scheme and has provided any such evidence that it is an overseas pension scheme as the Inland Revenue may require,
(b)the scheme manager has undertaken to the Inland Revenue to inform the Inland Revenue if it ceases to be an overseas pension scheme,
(c)the scheme manager has undertaken to the Inland Revenue to comply with any prescribed benefit crystallisation information requirements imposed on the scheme manager, and
(d)the overseas pension scheme is not excluded from being a qualifying overseas pension scheme by sub-paragraph (3).
(2)In sub-paragraph (1)(c) “prescribed benefit crystallisation information requirements” means requirements imposed by or under regulations made by the Board of Inland Revenue to provide to the Inland Revenue any information relating to events that are benefit crystallisation events in relation to members of the pension scheme who have at any time been relevant migrant members of the pension scheme.
(3)An overseas pension scheme is excluded from being a qualifying overseas pension scheme if the Inland Revenue has decided that—
(a)there has been a failure to comply with any prescribed benefit crystallisation information requirements imposed on the scheme manager and the failure is significant, and
(b)by reason of the failure it is not appropriate that relief from tax should be given in respect of contributions under the pension scheme,
and has notified the person or persons appearing to be the scheme manager of that decision (but subject to sub-paragraph (5) and paragraph 6).
(4)A failure to comply with prescribed benefit crystallisation information requirements is significant if—
(a)the amount of information which has not been provided is substantial, or
(b)the failure to provide the information is likely to result in serious prejudice to the assessment or collection of tax.
(5)The Inland Revenue —
(a)may at any time after an overseas pension scheme becomes excluded from being a qualifying overseas pension scheme decide that the pension scheme is to cease to be so excluded, and
(b)must notify the scheme manager of the decision.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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