Form

Pension schemes: overseas scheme manager March 2017 undertaking (APSS240)

Use form APSS240 if you're the scheme manager of a qualifying recognised overseas pension scheme (QROPS) to confirm that you understand and will operate the new tax charge from 9 March 2017.

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The deadline for submitting the APSS240 closed on 13 April 2017. Following the introduction of the overseas transfer charge on 9 March 2017, any overseas scheme failing to undertake to operate the new tax charge by 13 April 2017 automatically ceases to be a QROPS from 14 April 2017. For more information see the tell HMRC you’re a QROPS page.

Documents

Overseas scheme manager March 2017 undertaking (APSS240)

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Details

As a scheme manager of a QROPS, for your scheme to continue to be a QROPS you must confirm to HM Revenue and Customs (HMRC) that you understand and will operate the overseas transfer charge on certain overseas transfers.

If by the 13 April 2017 HMRC has not received your new undertaking your scheme will automatically cease to be a QROPS.

Use form APSS240 to confirm that you understand and will operate the overseas transfer charge.

Your completed undertaking must reach HMRC at the below address by 13 April 2017.

Pension Schemes Services
HM Revenue and Customs
Ferrers House
Castle Meadow Road
Nottingham
NG2 1BB
United Kingdom

For more information on the pension tax rules for overseas pension schemes please read Overseas pension schemes.

Published 8 March 2017