QROPS 2017 – What to expect for the tax man

HM Revenue and Customs (HMRC) has already signalled that overseas pension rules will change in April 2017. Besides some tax tweaking to bring pensions like Qualifying Recognised Overseas Pension Scheme (QROPS) into line with onshore pensions, the big shake up is likely to be with offshore pension providers. The grand design is to turn the … Read more

What’s The Point Of The ROPS List?

HM Revenue & Customs (HMRC) has published 123 lists of overseas pensions that meet the standards as Qualifying Recognised Overseas Pension Scheme (QROPS) since April 2006 – but the list seems pointless as no one checks if the pensions meet QROPS rules. The idea is that managers of qualifying pensions self-certify their schemes meet QROPS … Read more

Transferring A NHS Pension To A QROPS

If you have a UK National Health Service pension and want to transfer your fund overseas, time is of the essence. NHS pension rules allow a pension switch overseas – but only to a Qualifying Recognised Overseas Pension Scheme (QROPS). The government banned transferring public sector pensions to a QROPS in April 2015, but failed … Read more

Pension Freedoms Spark Tax Windfall For Treasury

Flexible access pension freedoms have triggered a tax windfall for The Treasury as retirement savers start to count the cost of drawing down their money. With billions of pounds locked away in pension funds, new rules introduced in April 2015 allow anyone over 55 years old to take some or all of their savings – … Read more

Unfair Taxes Throttle Britain’s Startup Entrepreneurs

Heavy capital gains tax burdens are discouraging entrepreneurs to develop companies to their true potential, claim business experts. Accountancy firm UHY Hacker Young argues entrepreneurs who sell their business for more than £30 million have to hand 22% of the proceeds to the government in tax. But those selling a business for £6 million or … Read more