Australia and New Zealand will see their share of the qualifying recognised overseas pension scheme (QROPS) market fall due to a tightening of tax laws, experts claim.
Figures released by Her Majesty’s Revenue and Customs (HMRC) have revealed the top six destinations for qualifying recognised overseas pension schemes (QROPS) for 2011 by market share. The figures, obtained by Guernsey QROPS provider Concept Group, show Guernsey has having the largest market share of 32%. New Zealand holds 28% of the market share, whilst Australia has 20%, the Isle of Man 5% and Malta with 1%. The total money moved overseas from the UK using QROPS legislation is now £1.4bn, HMRC's figures show. Roger Berry, managing director of Concept, said: "New Zealand remain...
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