The following Pensions Q&A provides comprehensive and up to date legal information covering:
In broad terms, the overseas transfer charge does not apply if, among other things:
the Qualifying Recognised Overseas Pension Schemes (QROPS) is established within the European Economic Area (EEA), and
the member is resident within the EEA and there is no onward transfer
In February 2020, HMRC updated its guidance at PTM102300 to indicate that, despite exit day occurring on 11 pm on 31 January 2020 and the UK being in the Brexit implementation period:
the reference to the ‘EEA’ in the first bullet point (ie the EEA QROPS establishment reference) still covers QROPSs established in the EEA or Gibraltar, and
the EEA reference in the second bullet point (the EEA member residency reference) covers residency in the EEA, the UK or Gibraltar
Similar updates have been made by HMRC to PTM102400. HMRC’s view is therefore that transfers to Gibraltar-based QRO
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Fraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the deceived for the Fraud Act 2006
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.