The Pension Schemes (Qualifying Recognised Overseas Pension Schemes) (Gibraltar) (Exclusion of Overseas Transfer Charge) Regulations 2021

These Regulations amend section 244C of the Finance Act 2004 to ensure the effective operation of Part 4 of the Act after the withdrawal of the United Kingdom from the European Union. They correct an omission in S.I. 2019/689 to ensure that a recognised transfer or onward transfer to a qualifying recognised overseas pension scheme (“QROPS”) established in Gibraltar continues to be excluded from the overseas transfer charge under Part 4 of the Act, in accordance with the rest of section 244C.