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Legislation
Finance Act 2004

Crossheading Non-UK schemes: the overseas transfer charge

  • Section 244A Overseas transfer charge
  • Section 244AA Overseas transfer charge: introduction
  • Section 244AB Overseas transfer charge: interpretation
  • Section 244AC Overseas transfer charge: transfers where no exclusion applies
  • Section 244B Exclusion: member and receiving scheme in same country
  • Section 244C Exclusion: receiving scheme in EEA state or Gibraltar, and member resident in UK or EEA state
  • Section 244D Exclusion: receiving scheme is an occupational pension scheme
  • Section 244E Exclusion: receiving scheme set up by international organisation
  • Section 244F Exclusion: receiving scheme is an overseas public service scheme
  • Section 244G Exclusions: avoidance of double charge, and transitional protections
  • Section 244H Power to provide for further exclusions
  • Section 244I Circumstances in which exclusions do not apply
  • Section 244IA Overseas transfer charge: transfers exceeding available allowance
  • Section 244IB Member’s overseas transfer allowance
  • Section 244IC Availability of member’s overseas transfer allowance
  • Section 244ID Information to be provided by relieved relevant non-UK scheme on block transfer
  • Section 244J Persons liable to charge
  • Section 244JA Amount of charge
  • Section 244K Meaning of “transferred value”
  • Section 244L Accounting for overseas transfer charge by scheme managers
  • Section 244M Repayments of charge on subsequent excluding events
  • Section 244N Discharge of liability of scheme administrator or manager
  1. Non-UK schemes: the overseas transfer charge
  2. Exclusion: receiving scheme is an occupational pension scheme

Section 244D | Exclusion: receiving scheme is an occupational pension scheme

From legislation.gov.uk

A transfer to a QROPS is excluded from the overseas transfer charge under section 244AC if—

(a)the QROPS is an occupational pension scheme, and

(b)when the transfer is made, the member is an employee of a sponsoring employer of the QROPS.

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