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26 April 2012
Changes to tax rules for members of non-UK pension schemes
HMRC have published draft regulations and explanatory memorandum making consequential changes to the tax rules for members of relevant non-UK pension schemes.
Finance Act 2011 removed a number of restrictions that previously applied to members of pension schemes from the age of 75 and also permitted individuals to draw unlimited amounts from their drawdown pension fund if certain conditions are met.
The draft rules will ensure the changes work properly for members of foreign pension schemes, which contain funds that have received UK tax relief.
Comments on the draft regulations should be emailed no later than 30 May 2012.
