95(1)Schedule 34 to FA 2004 (application of certain tax charges to non-UK schemes) is amended as follows.U.K.
(2)In paragraph 1(3) (list of “member payment charges”) before the “and” at the end of paragraph (d) insert—
“(da)the charges under section 636A(1A) and (1B) of ITEPA 2003 (uncrystallised funds pension lump sums),”.
(3)In paragraph 1(4)—
(a)after “The “member payment provisions” are” insert “—
(a)”, and
(b)at the end insert “, and
(b)section 636A(1A) to (1C) of ITEPA 2003.”
(4)After paragraph 5 insert—
“5A(1)Sub-paragraph (2) applies if—
(a)a payment is made (or treated by this Part as made) to or in respect of a relieved member or transfer member of a relevant non-UK scheme, and
(b)there is an amount of tax under a member payment charge that would be payable in respect of the payment, or part of the payment, but for the operation of double taxation arrangements.
(2)The payment or (as the case may be) that part of it—
(a)is “pension” for the purposes of Chapter 4 of Part 9 of ITEPA 2003 (foreign pensions), and
(b)is to be treated as included in the list, in section 576A of ITEPA 2003, of payments that are “relevant withdrawals” for the purposes of that section.”
(5)In paragraph 6 (tax under member payment charges to be reduced by foreign tax in respect of the payment concerned)—
(a)in sub-paragraph (1) after “in consequence of paragraph 1” insert “ , or by virtue of the operation of Chapter 4 of Part 9 of ITEPA 2003 in consequence of paragraph 5A, ”, and
(b)in sub-paragraph (2) after “in consequence of paragraph 1” insert “ or 5A ”.
(6)In paragraph 7(2) (regulations modifying the application, in relation to relevant non-UK schemes, of the member payment provisions) after paragraph (b) insert—
“(ba)contain transitional provisions and savings,”.
(7)After paragraph 9 insert—
“9ZA(1)For the purposes of determining the annual allowance charge in the case of an individual for a relevant tax year, a pension scheme is to be treated for the purposes of section 227G as a registered pension scheme if—
(a)in relation to that tax year, or
(b)in relation to any earlier tax year (whether or not a relevant tax year),
the scheme is a currently-relieved non-UK pension scheme and the individual is a currently-relieved member of the scheme.
(2)For the purposes of this paragraph, a tax year is a “relevant tax year” in relation to an individual if—
(a)it is—
(i)the first tax year in relation to which the individual is a currently-relieved member of any currently-relieved non-UK pension scheme, or
(ii)if later, the tax year 2015-16, or
(b)it is a tax year subsequent to the tax year identified under paragraph (a).
9ZB(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 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.”
(8)In paragraph 11 (calculating pension input amounts for certain non-UK money purchase arrangements) after sub-paragraph (2) insert—
“(3)Where a calculation under section 233(1) as applied by paragraph 8 is being carried out for the purposes of section 227F(3) in respect of a period that ends at the end of a tax year (see paragraph 9 and section 227F(1)), the appropriate fraction for the purposes of sub-paragraph (1)(b) is the appropriate fraction given by sub-paragraph (2) for that tax year (even where the period in respect of which the calculation is being carried out is part only of that tax year).”
(9)In paragraphs 12(2) and 19(2) (regulations modifying the application, in relation to relevant non-UK schemes, of the annual allowance provisions and lifetime allowance provisions) before the “and” at the end of paragraph (b) insert—
“(ba)contain transitional provisions and savings,”.