|Posted by QROPS on April 10, 2012 at 12:20 AM|
The holy grail of pensions for many ex pats are the tax-effectiveand flexible QROPS pension schemes.
The problem is huge numbers of ex pats do not qualify to take out aQROPS.
To switch any UK pension funds in to a QROPS, the pension investorhas to have left the UK permanently or be about to do so.
Keeping a home in the UK and working abroad does not cut the mustardwith HM Revenue and Customs.
Maintaining ties with Blighty while earning a tidy tax-free incomein Oman do...Read Full Post »
|Posted by qrops on November 16, 2009 at 10:09 AM|
Before qrops transfers were introduced, HMRC were entitled to charge at least 25% tax (depending on the tax code of the scheme member) on transfers of UK funds overseas. This was particularly galling to people who intended to retire to a country that taxed withdrawals on pension funds, because the member would pay 25% or over to HMRC, and then pay income tax in their destination country on withdrawing their remaining monies.
April ...Read Full Post »