01 October 2018
Rachel de Souza, tax partner at RSM, comments on the latest pension contribution and tax relief statistics by HMRC.
08 March 2017
The government is concerned that QROPS – non-UK pensions intended to operate similarly to UK pension schemes – are being abused. To counter the abuse, future transfers into a QROPS and from one QROPS to another will be subject to a 25 per cent tax charge unless certain conditions are met. Even where no immediate tax charge arises, actions taken up to five years later could create a liability.