Section 54 Overseas pension schemes: information and inspection powers

(1)

Part 6 of Schedule 36 to FA 2008 (information and inspection powers: special cases) is amended as follows.

(2)

In paragraph 34B (registered pension schemes etc)—

(a)

in sub-paragraph (2), omit the “or” at the end of paragraph (b) and, at the end of paragraph (c) insert—

(d)
a QROPS or former QROPS, or
(e)
an annuity purchased with sums or assets held for the purposes of a QROPS or former QROPS.

;

(b)

after sub-paragraph (4) insert—

(4A)
In relation to a notice to which this paragraph applies that refers only to information or documents relating to a matter within sub-paragraph (2)(d) or (e), paragraph 20 (old documents) has effect as if the reference to 6 years were to 10 years.

;

(c)

after sub-paragraph (7) insert—

(7A)
Where the notice relates to a matter within sub-paragraph (2)(d) or (e), the officer of Revenue and Customs who gives the notice must give a copy of the notice to the scheme manager in relation to the pension scheme.

;

(d)

in sub-paragraph (8), for “and (7)” substitute “ to (7A) ”.

(3)

In paragraph 34C (registered pension schemes etc: interpretation), insert at the appropriate places—

“QROPS” and “former QROPS” have the meanings given by section 169(8) of FA 2004;

;

“ “scheme manager”, in relation to a pension scheme, has the meaning given by section 169(3) of FA 2004.

(4)

In paragraphs 34B and 34C of Schedule 36 to FA 2008, references to a former QROPS include a scheme that ceased to be a QROPS before this Act was passed.