Expat Pension Advice- Barcelona
Making good decisions about your future
As an expatriate, recent UK legislation has been introduced to give you significant advantage over your UK-based peers, but many people remain locked-in to plans and policies that do not make full use of these allowances.For some of you, retirement will be a long way off, and for others, it might be too close for comfort! Whatever your situation, now is a good time to review your financial plan and, possibly, to adjust it to create a portfolio that it more likely to meet your needs. The Tyler Group found Imperius Wealth Management Consultants; well- trained Consultants for the pension options open to UK expatriates, and are waiting for you to contact them to discuss your individual situation and needs.
QROPS: Qualifying Recognized Overseas Pension Scheme
If you are thinking about enjoying your retirement outside of the UK, then a government approved overseas pension scheme provides you with an opportunity to maximize your retirement income and avoid the pitfalls of UK tax and regulations. A QROPS gives your greater control of your pension at retirement and provides valuable benefits for your spouse and your children.
Some of the benefits:
• No annuity purchase required
• 100% of fund for surviving spouse and their children
• Free from UK Inheritance Tax after five years
• More freedom to invest
QNUPS: Qualifying Non-UK Pension Scheme
QNUPS came about through legislation introduced on the 15th February 2010, and corrected the situation whereby UK pension funds transferred into a QROPS might have been liable to UK IHT charges. A QNUPS needs to satisfy similar conditions as a QROPS and broadly enjoys the same benefits, but with added advantages:
• Trustees do not have to report back to HMRC
• No limit to contributions, or size of the fund
• Income in currency of choice, reducing currency risk
• Immediately exempt from UK taxes on death
• Broad range of assets can be include
181 views • 4 slides
