Inheritance Tax Act 1984 section 271A

Qualifying non-UK pension scheme

Section 271A defines what counts as a "qualifying non-UK pension scheme" for inheritance tax purposes and sets out HMRC's power to make regulations prescribing the requirements such schemes must meet.

• A qualifying non-UK pension scheme is a pension scheme (not registered in the UK) that is established outside the United Kingdom and meets requirements set by HMRC regulations.
• The term "pension scheme" carries the same meaning as in Part 4 of the Finance Act 2004.
• HMRC regulations under this section may apply retrospectively, but only if doing so does not increase any person's tax liability.
• The regulations are made by statutory instrument and are subject to annulment by a resolution of the House of Commons.