The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006

[F1Computation of a member’s taxable asset transfer fundU.K.

This section has no associated Explanatory Memorandum

3A.—(1) The amount of a member’s taxable asset transfer fund under a relevant non-UK scheme (“the RNUKS”) is the sum of—

(a)the amount crystallised by virtue of benefit crystallisation event 8 on the transfer from a UK registered pension scheme to the RNUKS; and

(b)so much of the member’s taxable asset transfer fund under any other relevant non-UK scheme as has been transferred to the RNUKS without being subject to the unauthorised payments charge.

(2) Accordingly, the member’s taxable asset transfer fund (“TATF”) shall form part of the member’s relevant transfer fund (“RTF”), except in a case where the member’s RTF consists solely of a UK tax-relieved fund which has been transferred to the RNUKS.]

Textual Amendments