QROPS explained

Last month I highlighted the welcome changes in this year's UK Finance Bill to reintroduce IHT exemptions to certain foreign pension schemes. At the time of writing, draft regulations outlining exactly which schemes will be exempt are still not published. However, it is expected that QROPS will be included, so this month I will look at the concept of a QROPS and its advantages to UK expatriates. A QROPS (qualifying recognised overseas pension scheme) is a foreign pension scheme that is capable of accepting a transfer value from a UK-registered pension scheme. This is something that migh...