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Posted Tue, 27 Feb 2024 05:40:36 GMT by Thomas Rogerson
Hi, I moved overseas in 2012 and transferred a UK pension to a QROPS in Gibraltar in 2014 but made no further payments. Whilst overseas I only contributed to my Hong Kong MPF (HK$1,500 per month personal and employer contributions). I returned to the UK in October 2023 and now have taxable UK income. Am I able to make use of the carry forward annual allowance? I can't work out whether my QROPS (which was a tax relieved UK fund) qualifies as a "relevant pension scheme" for carry forward purposes. If I am eligible for Carry Forward, do I need to count my Hong Kong MPF pension input in the calculations? Thanks
Posted Wed, 28 Feb 2024 09:27:25 GMT by HMRC Admin 19

You can see guidance here:

HS345 Pension savings — tax charges (2023)

Thank you.
Posted Thu, 21 Mar 2024 05:29:20 GMT by Thomas Rogerson
Thank you but I still am not sure of the answer to my question. I believe I Should be looking at the following section: “Overseas pension schemes carry forward” As mentioned in original question, I moved my UK tax relieved fund to a QROPS in 2014, so I am still a member of that scheme, I have not taken any benefits. Whilst in Hong Kong, I was a member of a Hong Kong MPF pension with my overseas employer; of course this scheme is not a UK registered scheme and did not get any UK tax relief as it has nothing to do with the UK… The guidance also says: “You may not be able to carry forward unused annual allowance from one or more of the previous 3 tax years if you were not a member of your current overseas pension scheme during any part of that earlier tax year. For example, because you were in a different pension scheme with your current employer or you were in a pension scheme with another employer.” However, I was still a member of my overseas pension, I just wasn’t making any contributions? Am I able to carry forward annual allowance from the previous 3 tax years?
Posted Tue, 26 Mar 2024 09:16:24 GMT by HMRC Admin 8
You cannot carry forward unused allowances from any tax year where you were not a member of at least one UK registered pension scheme, or a qualifying overseas pension scheme.
Qualifying overseas pensions are at:
Check the recognised overseas pension schemes notification list
Thank you.

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