Schedules
Schedule 9Pensions
Part 3Non-UK schemes
51Amendments of Part 4 of FA 2004
1
Section 244G (exclusions: avoidance of double charge, and transitional protections) is amended as follows.
2
In subsection (2), in the words before paragraph (a), after “overseas transfer charge” insert “under section 244AC”
.
3
In subsection (3), after “overseas transfer charge” insert “under section 244AC”
.
4
After subsection (4) insert—
5
An onward transfer is excluded from the overseas transfer charge under section 244AC where—
a
the overseas transfer charge under section 244IA(1) arose in relation to the original transfer, and
b
none of the member’s overseas transfer allowance was available on the making of the original transfer.