On 6th April 2014 Life Time Allowance (LTA) limits will decrease by £250,000, meaning pension savings that fall above this lowered limit will no longer be tax-free. Read More
HMRC Archives - QROPS Review
Guernsey was once a prime location for Qualifying Recognised Overseas Pension Schemes with the Channel Island boasting a proud history as a sound financial centre with excellent consumer safeguards. Read More
There has been an update in the long running ROSIIP issue with HM Revenue & Customs releasing new guidance following the long-running case.
The ROSIIP case dates back to 2008 when the UK authorities withdrew QROPS status from the Singapore based scheme. After a hearing at the High Court it was ruled that ROSIIP never met the requirements to be categorised as a QROP Scheme. This left those in the scheme possibly facing a 55% tax charge. This is not now judged to be the case. Read More
HMRC introduces QROPS scheme administrator online filing
Posted by Matthew Carp | Pensions | No Comments
In it’s industry newsletter released today, HMRC made amendments to the two reporting forms used by QROPS scheme administrators to notify HMRC of receipt of a transfer. Read More
HMRC QROPS list mystery continues with Hong Kong scheme disappearance
Posted by James Cartwright | Pensions | No Comments
In a continuation of the QROPS list mystery, 23 of the 25 Hong Kong QROPS have been removed from the HMRC’s list HMRC has, true to form, refused to give an explanation for this. Read More
