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The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006
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- UK Statutory Instruments
- 2006 No. 207
- PART 2
- Regulation 4B
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There are currently no known outstanding effects for the The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006, Section 4B.
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[F1Unauthorised payments charge to apply (in lieu of scheme chargeable payment)U.K.
This section has no associated Explanatory Memorandum
4B.—(1) The scheme chargeable payment provisions in sections 185A to 185I shall not apply to a relevant non-UK scheme.
(2) But, during such time as an appropriated asset forms the whole or part of a transfer member’s TATF [F2or RFTATF]—
(a)the scheme shall be treated as making unauthorised payments to that member equal in amount to the scheme chargeable payments (in respect of income and gains) which would have been computed in accordance with those sections, and
(b)the transfer member shall be liable to pay the unauthorised payments charge in respect of such payments.
(3) Where the scheme’s interest in taxable property is not wholly referable to the transfer member’s TATF [F3or RFTATF], the amount of the unauthorised payment shall be proportionately reduced.]
Textual Amendments
F1Regs. 4A-4D inserted (retrospective to 6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes)(Amendment) Regulations 2006 (S.I. 2006/1960), regs. 1(2), 9
F2Words in reg. 4B(2) inserted (retrospective to 9.3.2017) by The Pension Schemes (Application of UK Provisions to Relevant Non-UK Schemes) (Amendment) Regulations 2018 (S.I. 2018/373), regs. 1, 2, 10
F3Words in reg. 4B(3) inserted (retrospective to 9.3.2017) by The Pension Schemes (Application of UK Provisions to Relevant Non-UK Schemes) (Amendment) Regulations 2018 (S.I. 2018/373), regs. 1, 2, 10
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