New Tax Declarant - now what? Advice needed please

james · 4 May 2018 17:38

Pension planning and Independent Financial Advice - talk to an expert today Pensions

[image] Certain subjects are intrinsically boring. Pensions planning can be one. Unfortunately, just like going to the dentist and paying your taxes, everyone needs to think about making adequate provision for their twilight years. Now, if you are still awake, I’m going to tell you how you can make this subject a whole lot less painful and potentially, make your pension fund more lucrative. Since April 2006, individuals who left the UK and who left behind private or company pension benefits, have been able to make a QROPS transfer. For those of you who don’t know (and for those of you who care) QROPS stands for Qualifying Recognised Overseas Pension Scheme - a scheme set up by those lovely people at HMRC, which allows non-UK residents to transfer their frozen pension outside of the UK. With me so far? QROPS isn’t aimed solely at British nationals. If you are a foreign national who has worked in the UK and built up a pension pot there, you can also now transfer this fund elsewhere. …