Not surprisingly, those overseas schemes that enjoy tax reliefs similar to those that apply to UK registered schemes will in principle attract the tax charges that apply to UK registered schemes, and in similar circumstances. The charges will only extend to funds derived from UK tax relieved contributions. The most significant of the charges are the annual allowance charge and the lifetime allowance charge.

The annual allowance charge applies to an individual who is a currently-relieved member of a currently-relieved non-UK pension scheme as if the scheme were a registered pension scheme.

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