(a)the scheme administrator of a registered pension scheme has become liable to the scheme sanction charge in respect of an unauthorised member payment, and
(b)property or money is transferred, or a sum paid, towards a registered pension scheme pursuant to a relevant order as a result of the unauthorised member payment.
266B(2) The scheme administrator may, within the period of one year beginning with the day on which the property or money is transferred, or the sum paid, claim relief from the relevant proportion of the scheme sanction charge.
Want to read more?
This content requires a Croner-i Tax and Accounting subscription.