Draft legislation: repayment of the overseas transfer charge

HM Revenue and Customs has published draft regulations and a draft explanatory memorandum for a technical consultation.

The first set of draft regulations detail the conditions and process for claiming a repayment of the overseas transfer charge where the charge was either paid in error or a change in the individual’s circumstances now means the original transfer was exempt from the charge.

The second set of draft regulations align the information requirements of SI2006/208 with those detailed in the draft Repayment of Overseas Transfer Charge regulations.