Part 4Pension schemes etc
Chapter 6Schemes that are not registered pension schemes
F1Non-UK schemes: the overseas transfer charge
244LAccounting for overseas transfer charge by scheme managers
(1)
In this section “charge” means overseas transfer charge for which the scheme manager of a QROPS or former QROPS is liable.
(2)
The Commissioners for Her Majesty's Revenue and Customs may by regulations make provision for or in connection with—
(a)
the payment of charge, including due dates for payment,
(b)
the charging of interest on charge not paid on or before its due date,
(c)
notification by the scheme manager of errors in information provided by the scheme manager to the Commissioners in connection with charge or the scheme manager's liability for overseas transfer charge,
(d)
repayments to scheme managers under section 244M of amounts paid by way of charge, and
(e)
the making of assessments, repayments or adjustments in cases where the correct amount of charge has not been paid by the due date for payment of the charge.
(3)
The regulations may, in particular—
(a)
modify the operation of any provision of the Tax Acts, or
(b)
provide for the application of any provision of the Tax Acts (with or without modification).