Gibraltar shuns flexible access in surprise Qrops twist

Gibraltar shuns flexible access in surprise Qrops...Lock icon

Gibraltar will not drop its rule that 30% of a Qrops fund can be taken tax free despite a widespread industry view that HM Revenue & Customs requires full flexible access for all qualifying schemes.

Published : 31, Mar 2017
What the changes to the UK nil rate band mean for IHT planning

What the changes to the UK nil rate band mean...

A staggering 70% of people have no understanding of the new residence nil rate band allowance coming into force on 6 April, which could have serious implications for their inheritance tax planning, warns Old Mutual Wealth financial planning expert, Rachael Griffin.

Published : 31, Mar 2017
Five ways to benefit at the pension last chance saloon

Five ways to benefit at the pension last chance...

Pension savers in the UK have up until midnight on 5 April to maximise their contributions to offset this year’s tax bill, says Nathan Long, senior analyst at Hargreaves Lansdown. Here he suggests five ways savers can make the most of their unused allowances.

Published : 30, Mar 2017
Triggering of Article 50 a fresh blow for Qrops

Triggering of Article 50 a fresh blow for Qrops...Lock icon

The UK government’s move on Wednesday to kick start the official two-year process for leaving the European Union is likely to be a further blow to a Qrops industry still reeling from the shock 25% charge imposed earlier this month.

Published : 29, Mar 2017
Advisers still wary of giving DB transfer advice

Advisers still wary of giving DB transfer advice...

UK advisers remain wary of defined benefit (DB) pension transfers due to the risks associated with challenges to historic advice, research has found. This is despite two thirds of advisers expecting a “big increase” in client enquiries about DB to DC transfers over the next 12 months.

Published : 28, Mar 2017
Copia launches managed portfolios targeted at decumulation

Copia launches managed portfolios targeted at...

Copia Capital Management, the discretionary fund management division of Novia Financial, has launched a range of managed portfolios purpose-built for decumulation.

Published : 24, Mar 2017
More firms in the FCA firing line after Holborn sanctions

More firms in the FCA firing line after Holborn...Lock icon

Several more firms are at risk of being sanctioned by the Financial Conduct Authority (FCA) as the regulator steps up action against international IFA firms specialising in overseas pension transfers, says Tim Searle, chairman of Dubai-based advisory firm Globaleye.

Published : 23, Mar 2017
Gibraltar names date for Qrops test regulations to go live

Gibraltar names date for Qrops test regulations...Lock icon

Gibraltar’s government has revealed that it will put in place personal pension regulations "on or before 31 March", enabling the jurisdiction’s Qrops to retain their status.

Published : 23, Mar 2017
Treasury ruling out pension raid for now claims AJ Bell

Treasury ruling out pension raid for now claims...

AJ Bell is claiming that the UK Treasury has ruled out changes to pension tax relief within the next few years, despite government sources suggesting that this is on the agenda after the post Spring Budget climbdown on national insurance contribution rises for the self-employed.

Published : 22, Mar 2017
Holborn Assets ordered to immediately cease pension transfers

Holborn Assets ordered to immediately cease pension...Lock icon

The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.

Gibraltar ‘in danger’ of losing Qrops status

Gibraltar ‘in danger’ of losing Qrops statusLock icon

Gibraltar must put in place a system for regulating personal pensions in just over two weeks to enable the jurisdiction’s Qrops to retain their status and continue to operate in the market.

Published : 21, Mar 2017
Why the new Qrops five-year circumstance change is critical

Why the new Qrops five-year circumstance change...

Many advisers woke up last Thursday morning aware their pipeline Qrops business had just been vastly reduced, says James Pearcy-Caldwell, co-founder of fee-based adviser Aisa International.

Published : 15, Mar 2017
Scotland could become jurisdiction for ‘new type of Qrops’

Scotland could become jurisdiction for ‘new type...

An independent Scotland could be the base for a “new type of Qrops”, a leading law firm's pensions expert has predicted.

Published : 14, Mar 2017
DeVere’s Nigel Green to review Qrops unit in group restructure

DeVere’s Nigel Green to review Qrops unit in group...

DeVere Group chief executive Nigel Green has launched a strategic review of the company’s business which will factor in the surprise Spring Budget announcement of a 25% overseas pension transfer charge on Qrops plans in some markets and particular circumstances.

Published : 14, Mar 2017
Qrops charge ‘inadequately consulted’ but good for Malta

Qrops charge ‘inadequately consulted’ but good...

The UK government’s unexpected decision to impose a 25% charge on some overseas pension transfers “lacked adequate consultation” but is positive for Malta and the wider pension industry, said the Malta Association of Retirement Scheme Practitioners (MARSP).

Published : 13, Mar 2017
STM concedes UK’s tax charge to hit 80% of new Qrops business

STM concedes UK’s tax charge to hit 80% of new...

Cross border financial services provider STM Group has revealed that the UK’s shock decision to impose a 25% charge on transfers to foreign pension schemes will affect 80% of its new Qrop business.

Published : 9, Mar 2017
Edgy deadlines for Qrops market, devil in planning detail

Edgy deadlines for Qrops market, devil in planning...Lock icon

Those operating in the Qrops market are now facing three crucial deadlines starting from today, as the implications of the hammer blow of a 25% overseas pension transfer charge applying to client pension pots in some circumstances sink in for advisers, providers and their clients.

Published : 9, Mar 2017
What to expect from the last ever Spring Budget

What to expect from the last ever Spring Budget...Lock icon

There has been little buzz around the last-ever Spring Budget taking place on 8 March, ahead of triggering Article 50. International Adviser has pulled together views from the industry about what it expects or would like to see addressed when the chancellor takes to the despatch box.

Ailo publishes guide to moving overseas from UK

Ailo publishes guide to moving overseas from UK...

The Association of International Life Offices (Ailo) has published a 'Guide to Moving Abroad', designed to assist advisers with clients planning to leave the UK to work or retire.

Published : 1, Mar 2017
DeVere probe ushers in ‘new era of regulatory oversight’

DeVere probe ushers in ‘new era of regulatory...Lock icon

The Financial Conduct Authority’s (FCA) investigation into deVere UK, launched after the regulator banned the firm from writing pension transfer reports, is “just the beginning”, according to Geraint Davies, managing director of Montfort International, with other firms also likely to be caught out.

Published : 28, Feb 2017

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