bulletEDITOR'S PICKS

 

QROPS to receive same flexibility as UK pensions

From Retirement Oct 23 2014 @ 12:33

The Taxation of Pensions Bill, debated in Parliament last week, will ensure additional benefits...
view article

EEA accused of 'deliberately' withholding information

From Products Oct 22 2014 @ 16:57

EEA has been accused of “deliberately” withholding information after an action group discovered...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

QROPS to receive same flexibility as UK pensions

QROPS to receive same flexibility as UK pensionsThe Taxation of Pensions Bill, debated in Parliament last week, will ensure...
view article

HMRC tax demands total £250m

From Tax & Regulation Oct 23 2014 @ 10:57

Manulife Singapore seals deal with RHB Bank...

From Asia Oct 23 2014 @ 10:30

MORE FROM Retirement

LATEST NEWS

Funds start buying into Alibaba

Funds start buying into AlibabaJust over one month after Alibaba's $25bn IPO on the NYSE, the largest in history,...
view article

BNY Mellon to rollout discretionary business in...

From Asia Oct 23 2014 @ 02:14

EEA accused of 'deliberately' withholding...

From Products Oct 22 2014 @ 16:57

MORE FROM Asia

LATEST NEWS

St James’s Place in profile – Guaranteed success

St James’s Place in profile – Guaranteed successSt James’s Place’s acquisition of The Henley Group in Asia earlier...
view article

UK failing to protect ‘compromised’ finance...

From Europe Oct 22 2014 @ 12:17

Record numbers sign up for annual ME Investment...

From Middle East Oct 22 2014 @ 11:56

MORE FROM Profiles



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...