Author Archive
QROPS Singapore Loses Approved Status From HMRC
HMRC has stunned offshore pension providers by removing approved status from all Singapore based
QROPS.
Although no reason has been given the Singapore authorities take is that HMRC simply do not understand the Singapore tax regime.
Brits Go Abroad For A Better Pension
Brits Go Abroad For A Better Pension: “Expats can now take funds with them and never buy an annuity thanks to new rules on overseas pensions.”
(Via
Homes Worldwide - Latest Property & Travel News.)
Spanish Wealth Tax Abolished
You will be pleased to learn that following all of the rumours,
Spanish Wealth Tax has finally been rescinded with effect from 2009.
Whilst because of the allowances available this affected non residents more than residents it is none the less a welcome move.
This also means that non resident owners who did not like to sort [...]
Double Taxation For Isle Of Man QROPS
We have discovered that investors who take out an Isle of Man-based QROPS with a view to reducing inheritance tax by up to 70% on death may have to pay two lots of income tax on their pension withdrawals.
Under current legislation, scheme members could be subject to an 18% tax charge on withdrawals, in [...]
Qualifying Recognised Overseas Pension Schemes - QROPS
What is Free My Pension? and how can I transfer my pension overseas?
If you live overseas you are entitled to move your pension with you and whilst it has always been possible to transfer and or take pension benefits abroad, under pension simplification in April 2006 this became very much easier.
Why leave your funds in [...]
Caution urged over Irish scheme transfers
Pension scheme trustees considering moving a scheme to Ireland are being urged to be cautious.
Rowanmoor Pensions, the UK’s largest independent small self-administered scheme (SSAS) practitioner, is urging advisers to be cautious about recommending the move, even though there are some advantages to it.
Spain tax office wants Gibraltar blacklisted
Spain is due to ask the OECD to return Gibraltar to a blacklist of tax havens that refuse to cooperate in fighting money laundering.
QROPS Press Release
The UK Inland Revenue has given Britons living abroad an unexpected bonus. For those who intend to remain permanently abroad it is now quite simple to transfer their UK pensions to more tax friendly jurisdictions via a Qualifying Recognised Overseas Pension Scheme (QROPS).
After a qualifying period individuals can access their funds in their entirety [...]
Free My Pension - Presentation
Please download the latest QROPS Presentation here;
Powerpoint
QROPS: Frequently Asked Questions
Q. Am I able to transfer protected rights into a QROPS?
A. Yes, as long as the receiving Qualifying Recognised Overseas Pension Schemes (QROPS) is willing to accept it. When the transfer takes place form CA1881 should be completed, which enables HMRC to keep track of where the protected rights are. In transferring protected rights it is [...]
