QROPS BULLETIN: JANUARY
Contributed by SIPP Specialists Limited
21 January, 2013
Contributed by SIPP Specialists Limited [www.sippspecialists.co.im]
After the break for Christmas and New Year, it has been a quiet start for QROPS articles. This time weve included a couple of articles about Gibraltar who seem in expansionist mode and a couple of articles about New Zealand which contradict each other about possible tax changes there.
There is also another article about possible HMRC scrutiny of QROPS Schemes and the fine print. Our view is that if you follow both the letter and spirit of the legislation then there really ought not to be a problem.
There have been no articles about QNUPS which is, frankly, surprising, given the contents of the Chancellors Autumn Statement, where he slashed the Lifetime Allowance to 1,250,000 and the Annual Allowance to 40,000 (with a possibility of both being cut even further).
We believe that unless someone has a substantial pension pot already, then the possibility of achieving a pot of 1,250,000 at the rate of 40,000 per annum is academic, or at least a very long term proposition. This may well open up the possibility of QNUPS where appropriate.
We must declare that we are multi-jurisdictional providers of both QROPS and QNUPS with a new QNUPS structure on the way, and that we have not written nor do we necessarily endorse any of the featured articles. We feel they might be of interest to some advisers for their clients.
If you feel that you want to discuss any of the contents of this Bulletin, or do not wish to receive them in the future, please contact us on firstname.lastname@example.org and visit www.sippspecialists.co.uk for more information.
- Some FAQ about Gibraltar QROPS
- Another article about Gibraltar as a jurisdiction
- Article about possible NZ tax changes
- Article about NZ contradicting previous article
- Cautionary article about possible HMRC scrutiny of QROPS
Mark Knight, DipFS
Oaklands Business Park
Hooton Road, South Wirral
Cheshire CH66 7NZ
T: 0151 328 0594
F: 0151 328 0707
SIPP Specialists Limited - Registered in England and Wales Registered No 4845017
Registered office: Montrose House, Clayhill Park Neston CH64 3RU
Tel: 0151 328 0594
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