Consultation outcome

Draft legislation: repayment of the overseas transfer charge

• From: HM Revenue & Customs
• Published: 12 November 2018
• Last updated: 8 April 2019 — See all updates

This consultation has concluded

Detail of outcome

The legislation was laid before Parliament on 3 April 2019 as the The Pension Schemes (Information Requirements – Repayment of Overseas Transfer Charge) Regulations 2019 and the The Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) (Amendment) Regulations 2019 and will take effect on 25 April 2019.

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Original consultation

Summary

Draft legislation on the information requirements and process for claiming a repayment of the overseas transfer charge.

This consultation ran from
10:30am on 12 November 2018 to 11:45pm on 7 December 2018

Consultation description

HM Revenue and Customs has published draft regulations and a draft explanatory memorandum for a technical consultation.

The first set of draft regulations detail the conditions and process for claiming a repayment of the overseas transfer charge where the charge was either paid in error or a change in the individual’s circumstances now means the original transfer was exempt from the charge.

The second set of draft regulations align the information requirements of SI2006/208 with those detailed in the draft Repayment of Overseas Transfer Charge regulations.

Documents

(Draft) Explanatory memorandum

PDF, 151 KB, 5 pages

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(Draft) The Pension Schemes (Information Requirements – Repayment of Overseas Transfer Charge) Regulations 2019

PDF, 121 KB, 4 pages

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(Draft) The Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) (Amendment) Regulations 2018

PDF, 106 KB, 2 pages

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Published 12 November 2018
Last updated 8 April 2019 + show all updates

1. 8 April 2019

   Added outcome summary, including links to resulting legislation.

2. 12 November 2018

   First published.