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About Pension Savings Tax Charges

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Pension savings tax charges applies to individuals who are members of an overseas pension scheme that is not registered in the UK, but have UK Tax-Relieved Funds or UK Transferred Funds.

What are UK Tax-Relieved Funds?

UK tax-relieved funds relates to funds in an overseas pension scheme made up of the following that was exempt from UK tax:

  • personal contributions

  • employer contributions relating to retirement and death benefits

What are UK Transferred Funds?

UK transferred funds are funds in an overseas pension scheme that was transferred directly or indirectly to the scheme from one of following:

  • UK registered pension scheme

  • UK tax-relieved funds

  • UK transferred fund in another overseas pension scheme


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