SCHEDULES
SCHEDULE 21Taxable property held by investment-regulated pension schemes
14
1
Schedule 34 (non-UK schemes: application of certain charges) is amended as follows.
2
In paragraph 1 (member payment charges)—
a
in sub-paragraph (3)(a), after “charge” insert “
(except as imposed by virtue of section 174A (taxable property held by investment-regulated pension schemes))
”
, and
b
in sub-paragraph (4), after “Part” insert “
(apart from the taxable property provisions)
”
.
3
After paragraph 7 insert—
Unauthorised payment charge: taxable property
7A
1
The Commissioners for Her Majesty's Revenue and Customs may by regulations make provision for a transfer member of a relevant non-UK scheme to be liable to the unauthorised payment charge in the same or similar circumstances to those in which—
a
a member of a registered pension scheme is liable to that charge by virtue of section 174A and Schedule 29A (taxable property held by investment-regulated pension scheme),
b
the scheme administrator of such a scheme is liable to the scheme sanction charge by virtue of section 185A (income from taxable property) or 185F (gains from taxable property), or
c
a member of such a scheme is liable to the scheme sanction charge by virtue of those provisions in consequence of provision made by regulations under section 273ZA.
2
The regulations may—
a
make provision for the application of any or all of the taxable property provisions in relation to a transfer member of a relevant non-UK scheme subject to any omissions, additions and other modifications contained in the regulations,
b
include provision having effect in relation to times before they are made,
c
contain transitional provisions and savings, and
d
make different provision for different cases.