Since HM Revenue & Customs (HMRC) introduced the Qualifying Non-UK Pension Scheme (Qnups) in 2010, there has been much interest but little uptake of these as standalone pensions. Initially, Qnups were regarded as inheritance tax (IHT) planning vehicles. However, the primary purpose must be to provide retirement benefits. The limitations on how these benefits can…
Despite a fanfare at launch, seven years on the Qualifying Non-UK Pension Scheme has not proved hugely popular even though it can offer useful advantages.
EFG International appoints a new chief executive, international law firm Withers appoints London head of immigration and Boal & Co appoints a senior actuarial consultant.
The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.
The number of Qrops transfers in the last financial year dropped to the lowest level since 2010/11 and is expected to fall further on the back of the UK Government’s 25% charge, as the amount of money accessed via the pensions freedoms hits a record high.
Isle of Man-headquartered Boal & Co has launched its first Malta-based Qrops as part of a strategic shift of marketing these schemes away from the Asia region.
HM Revenue & Customs (HMRC) will close its online service for managing recognised overseas pension schemes (Rops) on 5 April 2017, as it is no longer collecting the information the taxman needs.
Pensioners with recognised overseas pension schemes (Rops) face being able take less money from their retirement pots under new income drawdown rates released by HM Revenue & Customs (HMRC) this week.
In the third of a series of three independent reviews of international life products, Brian O’Neill, consultant at Isle of Man-based actuary and consultancy firm Boal & Co, puts the spotlight on Old Mutual International’s Wealth Management Plan.
In the second of a series of three independent reviews of international life products, Brian O’Neill, consultant at Isle of Man-based actuary and consultancy firm Boal & Co, puts the spotlight on Hansard’s regular premium product called Vantage Platinum II.
Sales of recognised overseas pension schemes (Rops) are taking a hit following the UK’s pension freedoms introduced last year, made worse by an FCA rule requiring British expats to seek regulated advice for defined-benefit pension transfers.
In the first of a new series of three independent reviews of international life products, Brian O’Neill, consultant at Isle of Man-based actuary and consultancy firm Boal & Co, puts the spotlight on RL360°’s regular savings product called Quantum.
