Ten industry views on the Qrops hammer blow
By Mark Battersby, 10 Mar 17
As the week comes to an end in which the Spring Budget slapped a surprise 25% overseas pension transfer charge in particular circumstances, here are the views on what it means from a cross section of the industry.
David White, Zurich’s managing director of life and pensions, says:
“Changes the government has announced to Qrops will add complexity to an already burdensome transfer process. The limited time to implement this is also unhelpful.
“However, any changes to legislation that deters tax avoidance loopholes is to be welcomed. We also see that this change will have an added benefit in reducing the use of Qrops in pension scams.”
