Expats have nothing to fear over QROPS changes

Expats need not worry about the crack down on rogue QROPS providers, as this is unlikely to affect legitimate offshore savers.

HM Revenue & Customs may have strengthened rules for providers but pension investors will see minimal change.

Most changes will not affect expat clients, and instead simply alter behind the scenes practices regarding HMRC approval.

The most obvious difference will be for expats who live in one country but have their QROPS hosted in another.

For some individuals, especially those with a Guernsey-based QROPS income tax paid on pension benefits will not differ.

It seems that  remains as usual for expatriate QROPS investors regardless of the rule changes the only people who have to worry are the  rogue providers who seek to swindle investors with non-approved products.

Of course, elimination of such providers can only be seen as a positive, and with that it seems the great predicted QROPS crisis is actually quite the opposite, simply a means of establishing a better regulated landscape and security for legitimate offshore savers.

News, Uncategorized.