Brendan Harper outlines the basic concept of QROPS and details the advantages it offers to expats
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...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes