Income tax hike boosts expat pension enquires - RBC

RBC Wealth Management has seen an increasing number of enquires from would-be British expats into Qualifying Recognised Overseas Pension Schemes (QROPS) since the 50% income tax rate announced in the last Budget. Louise Somerset, tax director at RBC Wealth Management, says the new rate for high net worth individuals is worrying many clients. "They are increasingly keen to discuss the possibility of becoming non-UK resident, and taking their wealth and skills overseas in the process," she says. Apart from Belgium and the Netherlands, the UK will be the only European country to impos...