Gaines-Cooper case could prompt migration to QROPS

Laura Miller
clock • 2 min read

The collapse of the Robert Gaines-Cooper case could see high net worth individuals flock to Qualifying Recognised Overseas Pension Schemes (QROPS) in a bid to dodge the taxman.

"Multi-millionaire entrepreneur and Seycelles resident Gaines-Cooper was liable to pay UK tax despite spending less than 91 days a year in England because the country had remained "the centre of gravity of his life and interests", the Court of Appeal ruled in a landmark case this week. The decision is being described as the "thin edge of the wedge" for HNW individuals, but they could help protect themselves from HMRC's ire by moving pension assets out of Britain using QROPS. "UK pensions can be neatly moved to a QROPS scheme and in addition to the many benefits people have over remain...

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

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Women in Financial Advice Awards 2026: Nominations close today!

Women in Financial Advice Awards 2026: Nominations close today!

Awards to be held at Hilton Bankside in London

Professional Adviser
clock 08 May 2026 • 1 min read
'Quality is the golden thread' – why Benchmark won Best Advice Network

'Quality is the golden thread' – why Benchmark won Best Advice Network

PA Awards 2026 winner shares secrets to success

Professional Adviser
clock 29 April 2026 • 3 min read
Editor's message: When new beginnings come together

Editor's message: When new beginnings come together

Professional Adviser will be back on Tuesday

Jen Frost
clock 02 April 2026 • 1 min read