HMRC does U-turn on Qrops pension transfers

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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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