Pensions issues for internationally mobile employees

Resource type: Practice note

Status: Maintained

Jurisdictions: England, Scotland, Wales

This practice note considers the tax regime under the Finance Act 2004 for internationally mobile employees that have a pensions connection with the UK. The note looks at the positions of both UK-based employees who are members of foreign pension plans and non-UK employed members of UK registered pension schemes, as well as covering tax charges that arise on non-UK schemes, transfers to qualifying recognised overseas schemes (QROPS), and the taxable property provisions introduced by the Finance Act 2006.

Anne Latrémolière and Sue Tye, Baker & McKenzie LLP

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Resource ID: 0-238-2974
Products: PLC UK Pensions, PLC UK Public Sector
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Topics

Cross-border: PensionsCross-border: Pensions (http://pensions.practicallaw.com/5-200-1613)
Tax and Accounting: PensionsTax and Accounting: Pensions (http://pensions.practicallaw.com/8-103-1346)

Practice note: overview

Pensions tax: overview Pensions tax: overview (http://uk.practicallaw.com/topic6-204-0440)

Practice notes

Auto-enrolment and new employer pension duties: qualifying schemes Auto-enrolment and new employer pension duties: qualifying schemes (http://uk.practicallaw.com/topic8-506-4714)
Cross-border pension schemes Cross-border pension schemes (http://uk.practicallaw.com/topic9-206-1087)
Pensions tax: relaxing the requirements to take benefits by age 75 Pensions tax: relaxing the requirements to take benefits by age 75 (http://uk.practicallaw.com/topic0-504-9237)
Pensions tax: transitional protection Pensions tax: transitional protection (http://uk.practicallaw.com/topic1-208-3955)
Reducing the annual and lifetime allowances for pension saving Reducing the annual and lifetime allowances for pension saving (http://uk.practicallaw.com/topic5-503-6633)
Restricting pensions tax relief: anti-forestalling measures Restricting pensions tax relief: anti-forestalling measures (http://uk.practicallaw.com/topic5-422-1726)

Standard document

Pension scheme trust deed and rules Pension scheme trust deed and rules (http://uk.practicallaw.com/topic1-501-5637)

Glossary

Additional voluntary contribution (AVC) Additional voluntary contribution (AVC) (http://uk.practicallaw.com/topic7-107-6359)
Annual allowance Annual allowance (http://uk.practicallaw.com/topic6-201-6478)
Annual allowance charge Annual allowance charge (http://uk.practicallaw.com/topic5-507-1382)
Benefit crystallisation event (BCE) Benefit crystallisation event (BCE) (http://uk.practicallaw.com/topic9-380-6406)
Civil partner Civil partner (http://uk.practicallaw.com/topic2-201-6423)
Defined benefit (DB) pension scheme Defined benefit (DB) pension scheme (http://uk.practicallaw.com/topic0-107-7545)
Defined contribution (DC) pension scheme Defined contribution (DC) pension scheme (http://uk.practicallaw.com/topic6-107-6072)
Free-standing additional voluntary contribution (FSAVC) Free-standing additional voluntary contribution (FSAVC) (http://uk.practicallaw.com/topic3-524-0767)
HM Revenue & Customs (HMRC) HM Revenue & Customs (HMRC) (http://uk.practicallaw.com/topic6-200-6399)
Lifetime allowance Lifetime allowance (http://uk.practicallaw.com/topic8-201-6477)
Lifetime allowance charge Lifetime allowance charge (http://uk.practicallaw.com/topic8-507-1314)
Money purchase scheme Money purchase scheme (http://uk.practicallaw.com/topic0-107-6857)
Normal minimum pension age Normal minimum pension age (http://uk.practicallaw.com/topic5-204-0445)
Pension input amount Pension input amount (http://uk.practicallaw.com/topic4-504-0739)
Pension input period Pension input period (http://uk.practicallaw.com/topic5-504-0734)
Qualifying recognised overseas pension scheme (QROPS) Qualifying recognised overseas pension scheme (QROPS) (http://uk.practicallaw.com/topic7-244-7953)
Registered pension scheme Registered pension scheme (http://uk.practicallaw.com/topic5-201-6474)
Special annual allowance Special annual allowance (http://uk.practicallaw.com/topic8-386-4425)
Special annual allowance charge Special annual allowance charge (http://uk.practicallaw.com/topic2-386-4428)
Special lump-sum death benefits charge Special lump-sum death benefits charge (http://uk.practicallaw.com/topic0-507-1271)
Trivial commutation lump sum Trivial commutation lump sum (http://uk.practicallaw.com/topic4-204-0441)
Unauthorised payment Unauthorised payment (http://uk.practicallaw.com/topic5-207-2097)
Unauthorised payments charge Unauthorised payments charge (http://uk.practicallaw.com/topic3-244-4956)
Winding-up lump sum Winding-up lump sum (http://uk.practicallaw.com/topic6-358-8952)

Article

Pensions and internationally mobile employees: checks and balances Pensions and internationally mobile employees: checks and balances (http://uk.practicallaw.com/topic8-383-1190)

Legal update: archive

HMRC publishes draft regulations exempting overseas schemes from reporting online HMRC publishes draft regulations exempting overseas schemes from reporting online (http://uk.practicallaw.com/topic8-508-3736)

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