HMRC does U-turn on Qrops pension transfers

HMRC has said that it will no longer pursue unauthorised payment tax charges over transfers to Qualifying Registered Overseas Pension Schemes (Qrops) made before September 2008, following a recent court defeat.

guidance note on HMRC’s website said it will not “raise or pursue” any assessments resulting from a transfer from a registered pension scheme to a scheme purporting to be a Qrops made before 24 September 2008, if there is no evidence of dishonesty or abuse.

Qrops are intended to...

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