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
QROPS Archives - QROPS Review
After a year of flux in 2013 with changes in QROPS jurisdictions from Guernsey to Singapore, 2014 promises to be a bumper year for the Qualifying Recognised Overseas Pension Scheme industry. Read More
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
