SCHEDULES

SCHEDULE 34Non-UK schemes: application of certain charges

Lifetime allowance charge

16

(1)

This paragraph applies on the occurrence of a transfer of sums or assets held for the purposes of, or representing accrued rights under, a relieved non-UK pension scheme which (apart from sub-paragraph (2)) would by virtue of paragraph 13 be a benefit crystallisation event in relation to an individual who is a relieved member of the relieved non-UK pension scheme.

(2)

The event is not a benefit crystallisation event if the transfer is a block transfer.

(3)

A transfer is a block transfer if it involves the transfer in a single transaction of all the sums and assets held for the purposes of, or representing accrued rights under, the arrangements under the relieved non-UK pension scheme which relate to—

(a)

the individual, and

(b)

at least one other member of the relieved non-UK pension scheme (whether or not that member is a relieved member).