SCHEDULES
C1SCHEDULE 34Non-UK schemes: application of certain charges F4and protections etc
Sch. 34 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 17 (as amended (6.4.2024 for the tax year 2024-25 and subsequent tax years) by Finance Act 2024 (c. 3), Sch. 9 paras. 62(7), 124 (with Sch. 9 paras. 125-132A) (as amended by S.I. 2024/356, regs. 1, 4))
Annual allowance charge
F19ZB
1
Sub-paragraph (2) has effect if at any particular time—
a
an individual is a transfer member of a relevant non-UK scheme,
b
the scheme is, or at any previous time has been, a qualifying recognised overseas pension scheme, and
c
the particular time is not in a tax year in relation to which the scheme is a currently-relieved non-UK pension scheme of which the individual is a currently-relieved member.
2
Section 227G applies in the individual's case as if the scheme, so far as relating to the individual's relevant transfer fund F3or ring-fenced transfer funds under the scheme, were a registered pension scheme at the particular time.
3
The reference in sub-paragraph (2) to the individual's relevant transfer fund under the relevant non-UK scheme is to be read in accordance with paragraph 4.
F24
The reference in sub-paragraph (2) to the individual's ring-fenced transfer funds under the relevant non-UK scheme is to be read in accordance with paragraph 1.
Words in Sch. 34 heading inserted (for the tax year 2024-25 and subsequent tax years) by Finance Act 2024 (c. 3), Sch. 9 paras. 64(2), 124 (with Sch. 9 paras. 125-132A) (as amended by S.I. 2024/356, regs. 1, 4)