The UK’s lifetime allowance is the amount of savings you can take from all of your combined UK occupational and personal pension schemes without facing a UK tax charge (which applies irrespective of the fact you are no longer a UK resident and/or taxpayer). On 6 April 2016 the UK’s lifetime allowance was reduced from […]
Budget 2017: QROPS Transfers Could Face 25% Tax Charge
The Budget 2017 by Philip Hammond, the UK Chancellor, delivered a significant shock to the pension transfer market by announcing the introduction of a 25% tax charge on certain pension transfers to Qualifying Recognised Overseas Pension Schemes (QROPS). QROPS have been popular for British expatriates living and/or retiring abroad as a QROPS can enable a […]
