Pension inheritors escape 55 death tax
Pension assets being passed on after death will not be subject to the 55% “death tax” from 6 April next year, following further pension amendments from the UK government.
Pension
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Reforms lead UK clients to prioritise
Next years pension reforms have led UK clients to prioritise the importance of their retirement planning, says Canada Life.
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Annuities survery
Advisory firms are almost evenly split on whether or not new rules regarding pensions have created a need for new products, a FundsNetwork survey has revealed.
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QROPS to receive same flexibility as UK pensions
The Taxation of Pensions Bill, debated in Parliament last week, will ensure additional benefits available on UK registered pension schemes will be open to QROPS, contrary to some early interpretation.
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QROPS provider Momentum takes stake
Momentum Pensions has acquired a strategic stake in Calderwood Pensions, a UK-based SIPP and SSAS administrator and trustee business.
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Another blow to QROPS
In the Taxation of Pensions Bill, debated in the House of Commons yesterday, and accompanying notes published by HMRC, a new requirement for QROPS to be tested against the lifetime allowance (LTA) more than just at crystallisation, has been inserted.
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Brooklands offers new Malta QROPS
Brooklands Pensions has partnered with Trireme Pension Services to add a new Malta-based QROPS to its product range.
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DeVere Green praises maturing UK
The UK government’s proposal to give Qualifying Recognised Overseas Pension Schemes (QROPS) the same rights as traditional UK-based pensions demonstrates the maturity of the pension transfer market, says deVere’s Nigel Green.
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How Osborne death tax changes impact on QROPS
For a long time now, the appropriate use of QROPS for British expats who are resident in the US, has been in debate. Some see it as a credible solution whilst others say that the risks far outweigh the benefits.
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Kreston develops pensions arm with appointment
Kreston (IOM) has appointed a new pensions manager and enlisted the services of The QROPS Bureau as it moves towards establishing itself as an international pension provider.
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Jailed pension scheme frauds ordered
Two directors of Tudor Capital Management have been jailed and ordered to pay back £5.1m after they set up a fraudulent pension scheme
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Osborne cut to 55 pension death rate
UK chancellor George Osbornes announcement at todays Conservative party conference that he will scrap the 55% tax on drawdown pension funds due on death has been described as a stealth tax by one leading tax expert.