HM Revenue & Customs (HMRC) has published draft regulations that would make changes to how lump sum payments made by non-UK schemes are taxed. The draft regulations would make further changes to the Finance Act 2004 rules on which lump sum payments are unauthorised payments.

These regulations are intended to ensure that lump sums paid by non-UK schemes out of UK tax-relieved funds are taxed in the same way as the equivalent payments by registered pension schemes.

Draft amendments to the Registered Pension Schemes Manual for these regulations have also been published .