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HMRC report details French QROPS

Guernsey, Ireland and the Isle of Man remain popular QROPS jurisdictions, with the countries having 143, 91 and 218 QROPS respectively. Other popular jurisdictions are Canada (60) and Germany (30). France has 12 recognised QROPS schemes.

HMRC usually publishes its QROPS list on a bi-monthly basis. However, although it lists the number of new and delisted schemes in each country, it does not report details of the numbers of people choosing to invest in each scheme, nor does it detail the individual, total or average figures invested.

The QROPS list is important because it allows retirement savers to be sure that schemes meet the HMRC criteria.

Talk to an independent international financial adviser to find out more.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

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UK Pension Tax Relief Amounted to £51.6B Last Year

The HRMC has revealed that the cost of pension tax relief in the UK last year amounted to the astronomical sum of £51.6 billion. This is due to the tax relief that UK citizens receive on contributions to their pensions (up to the annual allowance limit) and the NI relief that employers also receive on […]

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The End of NHR? Not the End of the World but Planning is Everything

50 Euro notes and Portugal flagTime may be running out for British retirees to move to Portugal in order to take advantage of its valuable Non-Habitual Resident tax programme. Currently, talk abounds that the scheme will come to an end in 2018 and be replaced with a 10% net expat tax regime from the first day of the New Year. Luckily, for those who feel they may be tempted by a move to Portugal, any move before this cut-off date will ensure that they are able to enjoy the benefits of NHR status as they currently stand.

However, it is important to bear in mind that UK QROPS, QNUPS and SIPPS pension transfers usually take around three months, so, although nothing concrete has yet been announced, time is of the essence for any person to make the most of both NHR status and any associated pension transfers.

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