Definitions for "Exempt Approved Scheme"
An Inland Revenue approved pension scheme, which is established under an irrevocable trust and hence qualifies for tax advantages relating to contributions, income and capital gains from investments.
An approved scheme which is established under irrevocable trusts, giving rise to the tax relief allowed for in the Finance Acts.
An approved scheme (other than a personal pension scheme) which is established under irrevocable trust (or exceptionally, subject to a formal direction under s592(1)(b) ICTA88) thus giving rise to the tax reliefs specified in ICTA88.