A transfer from one registered pension scheme to another constituted a ‘payment’ in the definition of the term ‘unauthorised payment charge’ in circumstances where it later transpired that the trusts of the recipient scheme were void for uncertainty. 

The appellant established two self-invested personal pension schemes (SIPPs). However, he subsequently wished to become more involved in the management of the funds and to be able to borrow from the funds in order to invest in his own capacity. In 2007, the appellant was introduced to a ‘pension transfer plan’. The appellant decided to use the scheme for one of his SIPPs. 

The proceeds of what had been that SIPP (less AC’s fee) were transferred as part of an arrangement involving a Cyprus company (LML) and