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Registration of pension schemes

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The Finance Act 2004 (Specified Pension Schemes) Order, SI 2019/1425, extends the definition of ‘public service pension scheme’ with effect from 21 November 2019, to enable pension schemes established under the laws of foreign countries to apply to become registered pension schemes in the UK.

The change follows the First-tier Tribunal decision in BAV-TMW-Globaler-Immobilien Spezialfonds [2019] UKFTT 129, and gives certainty to the government’s policy intention to allow foreign equivalents of UK pension schemes to become registered pension schemes, along with the entitlement to claim tax relief on their UK investments.

Issue: 1464
Categories: News