bulletEDITOR'S PICKS

 

SIPP provider ordered to pay UCIS compensation in landmark case

From United Kingdom Jul 28 2014 @ 12:25

The Financial Ombudsmen Service (FOS) has upheld a complaint against SIPP provider...
view article

Specifics of Singapore insurance channel due by "end of the month"

From Asia Jul 25 2014 @ 11:16

The Monetary Authority of Singapore (MAS) has announced that it will release details of its...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Skandia appoints FPI’s Firman to lead Africa push

Skandia appoints FPI’s Firman to lead Africa pushSkandia International has appointed Matthew Firman as its new area manager for...
view article

SIPP provider ordered to pay UCIS compensation...

From United Kingdom Jul 28 2014 @ 12:25

Aberdeen outflows reach £5.5bn as Asia client...

From United Kingdom Jul 28 2014 @ 11:36

MORE FROM People

LATEST NEWS

Jersey passes charity law in bid to bolster 'philanthropic wealth structuring'

Jersey passes charity law in bid to bolster Jersey’s government has passed a new charities law in its latest bid to become the...
view article

Spain boosts Mirabaud AUM

From Europe Jul 25 2014 @ 12:57

RBS posts £2.6bn profits in surprise results...

From United Kingdom Jul 25 2014 @ 12:40

MORE FROM United Kingdom

LATEST NEWS

Specifics of Singapore insurance channel due by "end of the month"

Specifics of Singapore insurance channel due by "end of the month"The Monetary Authority of Singapore (MAS) has announced that it will release...
view article

Jersey sees post-AIFMD growth in Europe placed...

From Tax & Regulation Jul 25 2014 @ 10:47

Four celebs who paid the price of tax avoidance

From Tax & Regulation Jul 24 2014 @ 14:00

MORE FROM Asia



Now Slovakia QROPS vanish from HMRC list

From Retirement Feb 6 2013 BY: Helen Burggraf , Contributing Editor , International Adviser

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


Another country has disappeared from HM Revenue & Customs’ current list of QROP schemes, with the removal of all four of the schemes run by an arm of Slovakia’s Tatra bank.

HMRC updates the list every two weeks, and it is read with interest by QROPS industry executives, who are quick to spot any changes.

No details about why the schemes disappeared sometime before the 25 Jan list was published were immediately available.  The press office of Tatra did not reply to a request for comment late this afternoon, while an HMRC spokesman said he was “unable to comment on individual schemes and jurisdictions”.

Pension administrators in other jurisdictions said they also did not know what reasons lay behind the sudden absence of the four DDS Tatra Banky schemes from the HMRC list, but speculated that routine investigations HMRC is understood to carry out on schemes around the world had turned up something that, as one put it, “they [HMRC] don’t care for”.

Pension experts and advisers also said that it was unlikely the Slovakian schemes had many members, as the country is not a major retirement destination for Britons. Most of the pensions would have been those of Slovakians who worked in the UK and had returned home.

Tatra Banka is based in Bratislava, and is a part of Austria’s Raiffeisen Zentralbank group.

As reported, QROP schemes in Cyprus and Singapore also vanished from the HMRC list, in 2012 and 2008 respectively, while pension trustees in Gibraltar suspended pension transfers to that jurisdiction in 2009, pending resolution of concerns HMRC was known to have over how pensions were taxed there.

The matter was resolved last year and pension transfers have resumed, with a number of new schemes having been added to the list, including Sovereign Trust's Calpe Retirement Benefit Scheme, and London & Colonial’s “EU QROPS”.

To see HMRC's current QROPS list on its website, click here. To see the last list on which the Slovakia schemes featured, click here.
 

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


COMMENTS


Have your say

(Be the first to) Have your say!

Please sign in or register here to leave a comment. Registration is free and only takes a few moments.






Share us on Twitter

SHARE US ON TWITTER
Join the community

Join us on Linked In

SHARE ON LINKED IN
Inform your colleagues

Switch to our mobile site

SWITCH TO MOBILE SITE
News on the go

Back tot he top of the page

BACK TO TOP OF PAGE
Just click here...