hmrc
July 1, 2015
I am wholeheartedly backing the move made by HMRC today to remove Australian superannuation funds from its official recognised list of Qualifying Recognised Overseas Pension Schemes (QROPS).
Despite the fact that Australian superannuation funds are stringently regulated, since the ‘pensions age test’ came into effect on 6 April this year, they no longer fulfil the requirements in order to be considered a QROPS, as they allow the over-55s early pension drawdown.
I am
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premium
December 12, 2012
QROPS changes 2013
premium
The Draft Finance Bill add's a few new reporting requirements, including an obligation for scheme administrators that every five years they notify HMRC that their scheme continues to meet the conditions to be a QROPS. The Draft Finance Bill add's a few new reporting requirements, including an obligation for scheme administrators that every five years they notify HMRC that their scheme continues to meet the conditions to be a QROPS.
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