HM Revenue and Customs QROPS list is a public resource that tells investors and pension administrators if a Qualifying Recognised Overseas Pension Scheme is recognised as a bona fide scheme by the tax authority – with some reservations. HMRC explains how the list works in a manual for tax inspectors that is also freely available […]

Can Expats Trust HMRC’s Tax Residence Indicator?

The Statutory Residence Test was designed to make decisions about tax residence in the UK simpler for everyone. Despite an online step-by-step Tax Residence Indicator, the website offers just that – an indication of residence status and hints at taking professional advice before committing to any financial planning. The website is so guarded about giving […]

Savers Warned About Pension Unlocking Penalties

Retirement savers who try to access their pension cash before the age of 55 face a tax bill of more than half the pension savings they have tried to unlock. The stark warning comes from HM Revenue and Customs as the battle against pension unlocking fraudsters hots up. Recently, a raid on a call centre […]

Singapore QROPS Investors Battle To Salvage Their Pensions

Investors formerly with the defunct Singapore ROSIIP QROPS are challenging a tax demand in the High Court that could see more than half their pension savings disappear. The group of 37 retirement savers were among more than 120 investors who all transferred pension pots from Britain to the Singapore QROPS only to see the scheme […]