Qualifying Recognised Overseas Pension Schemes (QROPS) News

UK Pensioners Dealt Further Blow In Guernsey RATS Case

by Robin Pilgrim, LawAndTax-News.com, London

Tuesday, August 14, 2012

A British couple that received incomplete tax advice in relation to a transfer of pension entitlements to a Guernsey retirement annuity trust scheme have been dealt a further blow in a recent ruling from the UK's Upper Tribunal, which agreed that interest should be imposed on top of substantial income tax liable under an earlier 2010 ruling. Read Full Story

HMRC To Resist Pensioners' Claims In ROSIIP Case

by Jason Gorringe, Tax-News.com, London

Tuesday, August 7, 2012

The UK tax authority, HM Revenue and Customs has announced it is 'actively resisting' group litigation brought by former members of a Singapore-based investment fund, who are facing unexpected tax bills after the fund had its Qualifying Registered Overseas Pension Scheme status withdrawn in 2008. Read Full Story

Guernsey Extends Fiduciary Return Deadline

by Jason Gorringe, Tax-News.com, London

Wednesday, July 18, 2012

In response to representations from the financial services industry, the Guernsey Financial Services Commission has announced an extension to a tax return filing deadline in respect of the fiduciary sector, and new guidance to support adherence with expanded reporting requirements. Read Full Story

Offshore QROPS Domiciles Stunned At HMRC's Last-Minute Change

by Jason Gorringe, Tax-News.com, London

Thursday, April 12, 2012

The UK tax authority, HM Revenue and Customs has indicated that tax relief available on pension transfers, under so-called Qualifying Recognised Overseas Pension Scheme structures, will no longer be available unless the Scheme is offered within the territory in which the expatriate is newly resident, putting a multi-million offshore industry at jeopardy. Read Full Story

Jersey Responds To QROPS Change With New Offering

by Jason Gorringe, Tax-News.com, London

Wednesday, April 11, 2012

The Jersey government has announced the launch of a new Jersey-based pension scheme, the Recognized Pension Scheme, which provides a structure compliant with UK law following changes to UK rules regarding Qualifying Recognised Overseas Pension Schemes. Read Full Story

Gibraltar Government To Back Finance Industry

by Jason Gorringe, Tax-News.com, London

Friday, March 23, 2012

To mark one hundred days in office, the Gibraltar government has made a number of pledges that it will fulfil during its term, many of which are pertinent to taxpayers and the financial services sector. Read Full Story

Investors Reassured After HMRC's QROPS Attack

by Jason Gorringe, Tax-News.com, London

Wednesday, May 4, 2011

Investors should not be deterred from investing via a Qualified Registered Overseas Pensions structure after the UK tax authority, HM Revenue and Customs, closed a tax loophole created by a new double taxation treaty with Hong Kong, according to a leading offshore pension provider. Read Full Story

Guernsey QROPS Code of Practice Published

by Jason Gorringe, Tax-News.com, London

Thursday, April 7, 2011

The Guernsey Association of Pension Providers has noted the publication of a 13-page Code of Practice document, on March 31, as a guide to best practice on the operation of Qualifying Registered Overseas Pension Schemes in Guernsey. Read Full Story

Guernsey Finance Endorses QROPS Code

by Jason Gorringe, Tax-News.com, London

Wednesday, February 9, 2011

Guernsey Finance – the promotional agency for the island's financial services industry – has welcomed the publication of a new code of practice for local Qualifying Recognized Overseas Pension Schemes providers as demonstrating the island's commitment to excellence in pensions. Read Full Story

Guernsey Association Publishes QROPS 'Best Practice'

by Jason Gorringe, Tax-News.com, London

Thursday, February 3, 2011

The Guernsey Association of Pension Providers has published a Code of Practice as a guide for members on best practice in the establishment and operation of Qualifying Registered Overseas Pension Schemes in Guernsey. Read Full Story

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