Gibraltar LighthouseOn April 6, many new regulations for QROPS came into effect. These changes were made to make the taxation of foreign pensions more in line with UK pensions. Any QROPS not registered as being compliant with the new rules by April 5 could be delisted by HMRC.

One significant change means that, as long as they qualify under the other requirements, it's no longer compulsory for schemes to adhere to the "70 per cent" rule. This is a rule that ensures providers ring fence 70 per cent of the pension contributions transferred into the QROPS in order to provide the saver with income for life.

Leaning Tower of PisaItaly has introduced a new 'non-dom' tax incentive which may see many wealthy British expats relocating to its shores, as well as convincing rich Italian expats to return. The new measure was approved by the Italian parliament in December as part of Italy's Finance Bill 2017.

It ensures that foreign residents will be exempt from Italian tax on all offshore income and gains for a flat-rate tax charge of €100,000 (about £84,000). For a further €25,000, the tax exemption can be extended to family members.

Juicy lottery-sized sums are being offered to savers to tempt them out of gold-plated workplace pension schemes and into personal plans.

An example is Mrs Dee (not her real name), 4 years ago she asked for her final salary transfer value and it came in at £250,000, a nice sum you may think. After reviewing all the facts and figures available, I advised Mrs Dee to leave her final salary where it was, which she duly did, but towards the end of last year, because of favourable market conditions, I applied for another transfer value. This one came in at just under £600,000.

Monkey in GibraltarSince Theresa May's triggering of Article 50, one prominent hot-button issue arising in Brexit negotiations is the fate of Gibraltar.

Over the past week or two, Gibraltar has leapt back into the public eye as concerns have been raised over the impact Brexit could have on the territory. With Spain certainly appearing intent on reclaiming sovereignty since conceding it to Britain over 300 years ago, tensions are rising between the two countries.

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