Section 271A — Inheritance Tax Act 1984: Qualifying non-UK pension scheme

Qualifying non-UK pension scheme 271A 1 For the purposes of this Act “ qualifying non-UK pension scheme ” means a pension scheme (other than a registered pension scheme) which—

a is established in a country or territory outside the United Kingdom, and b satisfies any requirements prescribed for the purposes of this section by regulations made by the Commissioners for Her Majesty's Revenue and Customs. 2 “ Pension scheme ” has the same meaning as in Part 4 of the Finance Act 2004 (see section 150 of that Act).

3 Regulations under this section may include provision having effect in relation to times before the regulations are made if it does not increase any person's liability to tax.

4 The power to make regulations under this section is exercisable by statutory instrument, which is subject to annulment in pursuance of a resolution of the House of Commons.