Laurence Lancaster LLB, LLM, TEP, Tax Counsel with Sovereign, presented on this topic.
Below is a summary of the agenda. You can view a detailed copy of the agenda here.
Part 1: Qualifying Recognized Overseas Pension Schemes (QROPS)
Topics for discussion:
- What is a QROPS?
- Summary of changes to the regime since 6 April 2006 (A-Day)
- Overseas Transfer Charge
- Other charges / penalties
- Attribution of payments to different types of funds following April 2017 changes
- Considerations for those members returning to the UK.
Part 2: Qualifying Non UK Pension Schemes (QNUPS)
Topics for discussion:
- What is a QNUPS?
- Why is it important for a QROPS to be a QNUPS?
- Changes to the tax treatment of lump sums (includes discussion of QROPS)
