SCHEDULES
C1SCHEDULE 34Non-UK schemes: application of certain charges F2and 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
F19ZA
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).
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)