HM Revenue & Customs (HMRC) has issued guidance providing answers to 13 questions on the annual allowance rules for overseas pension schemes.

The annual allowance rules apply to overseas pension schemes when a UK taxpayer or his/her employer benefits from tax relief on the contributions made as a result of being eligible for one of the specified reliefs. The reliefs extend to a wide range of groups using overseas schemes, however, the guidance will be most useful to those employees eligible for migrant member relief.

The new guidance can be viewed online at HMRC’s website