Ethical QROPS
Statement of practice
It is our policy to provide guidance on QROPS transfers that fall within both the spirit and the letter of UK QROPS laws and regulations.
UK QROPS transfer regulations provide the opportunity to:
- Legitimately avoid
- UK Income Tax on the QROPS fund
- UK Inheritance Tax on the QROPS fund
- Take up to 30% of the QROPS fund as a tax free lump sum
- Choose a much wider beneficiary group for the QROPS fund than is possible with UK pension rights
In order to fully enjoy these benefits, the only requirement is that you must have been absent from the UK for 5 complete tax years (tax years of absence prior to the QROPS transfer are actually counted as part of the 5 qualifying tax years!).
Despite these very clear and significant benefits, there are some (often quite complicated and fairly expensive) schemes in place with more tempting arrangements than are either provided or intended by UK QROPS regulations.
We work exclusively with QROPS providers that comply with both the spirit and the letter of the UK QROPS regulations.
We believe this to be in the best interests of our clients and in our own professional best interests.
For more information please email us.
QROPS Bureau