How does UK pension liberation impact QROPS

Are you still toying with the idea of transferring your UK Pension into a QROPS? There is a growing expectation that HMRC will introduce some sort of anti-avoidance legislation to ensure non-UK residents cashing out their UK pensions pay tax in the UK. Aware you would also be subject to tax in your new country of residence? You may claim double taxation relief however the highest rate of tax between the UK and your new country of residence will apply.

QROPS transfers remain extremely attractive in terms of tax efficiency however the window of opportunity could be fast closing. Act now before it’s too late! Give us a call on Tel: +34 900102374 or email enquiries@fiduciarywealth.gi to arrange a private consultation at our expense with one of our certified financial planners about retirement planning and your retirement plans.