How the Qrops levy will impact UAE pension planning
Old Mutual Wealth’s David Denton talks about how the shock 25% Qrops charge imposed by the UK last month will affect retirement planning in the UAE.
Qrops
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Qrops cull expected in shock second suspension of UK list
HM Revenue & Customs is to temporarily suspend its list of qualifying recognised overseas pension schemes (Qrops) for a second time on 2 June, signalling a further cull amid a drastic overhaul of overseas pension transfers.
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Nine countries dropped as Qrops list culled by 30%
Nine countries were dropped and one added when HM Revenue & Customs updated its list of qualifying recognised overseas pension schemes (Qrops) on Tuesday after it was temporarily suspended following drastic changes to overseas pension transfers.
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IVCM on why Australia is still a ‘huge market’ for Qrops
IVCM’s Cameron Law talks about how British expats retiring to Australia and New Zealand can still transfer their UK pensions into a qualifying recognised overseas pension schemes (Qrops) without incurring the UK’s new 25% tax charge.
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Sipp provider Liberty reports massive 87% rise in assets
Liberty Sipp, a UK provider of self-invested personal pension schemes (Sipps), has increased its assets under management by an astonishing 87% over the last year.
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Spain bemused by UK’s ‘war talk’ in Brexit row over Gibraltar
Spain has accused UK government officials of “losing their cool” in a row with the European Union over the future of Gibraltar post-Brexit.
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Gibraltar shuns flexible access in surprise Qrops twist
Gibraltar will not drop its rule that 30% of a Qrops fund can be taken tax free despite a widespread industry view that HM Revenue & Customs requires full flexible access for all qualifying schemes.
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Triggering of Article 50 a fresh blow for Qrops
The UK government’s move on Wednesday to kick start the official two-year process for leaving the European Union is likely to be a further blow to a Qrops industry still reeling from the shock 25% charge imposed earlier this month.
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UK/UAE treaty allows expats to cash out pensions tax free
A new UAE-UK double tax treaty, which came into force on 1 January, means that British expats over 55 residing in the Gulf state can cash out their full pension pot entirely tax free, according to David Denton, head of international technical sales at Old Mutual Wealth.
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Gibraltar names date for Qrops test regulations to go live
Gibraltar’s government has revealed that it will put in place personal pension regulations “on or before 31 March”, enabling the jurisdiction’s Qrops to retain their status.
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Gibraltar ‘in danger’ of losing Qrops status
Gibraltar must put in place a system for regulating personal pensions in just over two weeks to enable the jurisdiction’s Qrops to retain their status and continue to operate in the market.
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Why the new Qrops five-year circumstance change is critical
Many advisers woke up last Thursday morning aware their pipeline Qrops business had just been vastly reduced, says James Pearcy-Caldwell, co-founder of fee-based adviser Aisa International.