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QROPS BULLETIN MAY

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Contributed by MW Pensions
23 May, 2012


Contributed by MW Pensions. [www.mwpensions.co.uk]

This newsletter is meant for Financial and professional advisers only, and members of the general public should not rely upon it

The dust seems to be clearing a little. Guernsey QROPS for non residents have been banned as 157E legislation is specifically vetoed by HMRC. Malta seems to be the new QROPS jurisdiction of choice because of its EU membership and 59 Double Taxation Agreements (DTA). Gibraltar is re-entering QROPS fray and New Zealand is still viable with a (currently) depleted list of providers. We believe that this list will be added to in due course. Jersey has cancelled its foray into the QROPS marketplace and the IOM has reverted to cautious type and is not saying very much about anything.

In some ways it has simplified matters greatly for advisers and their clients. New Zealand nil tax and 30% tax free cash. Gibraltar, low tax and 25% tax free cash, and Malta 35% tax but a large number of DTAs.

Malta is a full EU member and Gibraltar an EU member by association. But there remains a nagging doubt that HMRC are not yet finished with QROPS. Watch this space.

We have to say we haven’t written any of these articles and just because they’re here it doesn’t mean we agree with them. It’s just for information.

Please don’t hesitate to contact us if you’d like to discuss any of these matters.

CHRIS WILLIAMS


MW Pensions Ltd, Oaklands Park, Hooton Road, Hooton, South Wirral CH66 7NZ
Tel: 0151 328 1777  Fax: 0151 328 0707  
website: www.mwpensions.co.uk  e-mail: admin@mwpensions.co.uk
Authorised and Regulated by the Financial Services Authority



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