Changes made by Finance Act 2017 ensure that funds in registered pension schemes based outside the UK are subject to UK taxation consistently with the tax treatment of a UK-based registered scheme for 2017–18 and subsequent years. A new definition has been introduced, that of a ‘non-UK registered pension scheme’, which is a pension scheme that is established outside the UK but is registered in the UK for tax purposes ( FA 2004, s. 242A).

The tax provisions of FA 2004, Pt. 4 are to be applied to non-UK registered pension schemes as follows

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