Boal to de-register Trinity QROPS

Commenting on the decision, Gary Boal, managing director of Boal & Co, says he believes it is a temporary measure until the Isle of Man alters it tax regime to comply. Existing investors will be unaffected. Under the new legislation announced by HMRC, jurisdictions must operate a level playing field with regard to the tax treatment of resident and non-resident QROPS investors by 6 April 2012. Currently Isle of Man QROPS are tax exempt for non-residents, but not for residents. “Of all of our Isle of Man QROPS, only our “50C” schemes are affected by the new eligibility criterion. Whils...