Q. How does the UK lifetime allowance have the potential to affect your pension transfer to Australia?
UK Pension Transfers to Australia - UK Lifetime Allowance
When is a UK Adviser required as part of the transfer process?
UK Pension Transfers to Australia - Pre-Transfer Information (UK Advice) In this 2 minute video Transfer Specialist Scott Noell explains when and why a UK Adviser is required as part of the transfer process.
During the transfer process what are the most common scenarios that (without considered planning) can trigger unintended tax liabilities?
UK Pension Transfers to Australia - Taxation In this short 3 minute video QROPS Specialist Scott Noell explains the most common scenarios that may trigger unintended tax liabilities and how to avoid them.
So What is a Defined Benefit (DB) Transfer?
Firstly, a Defined Benefit pension is an investment vehicle that was often used as a recruitment tool, usually funded by contributions from both employer and employee and provides a number of benefits upon retirement that are promised by the employer. A Defined Benefit transfer is the name given to the process of transferring the value of this pension into another [...]
UK Budget puts a stop to Pension Scams introducing new residency rules and potential tax consequences
QROPS continue to be a hobbyhorse for the UK government largely in a bid to fend off offshore pension scams. The UK Budget announced on 9th March 2017 made further changes impacting upon transfers of UK tax relieved pension funds to QROPS. Information on these changes and how they may impact you is outlined below. What was announced: All UK [...]
Autumn Statement closes pension tax relief loophole for over-55s
The amount you can save into a pension – once you have already taken some money out – has been slashed by the Government in a bid to clamp down on those seeking “double tax relief”. The move will hit hundreds of thousands of people, aged 55 and over, who have used the new “pension freedoms” available since April 2015 [...]
Pension cold callers who prey on the elderly will be banned, Philip Hammond to announce
Pension cold callers who prey on the elderly and trick them into giving up their life savings will be banned, the Chancellor will announce next week. More than 11 million pensioners are being targeted annually by cold callers with fraudsters making 250 million calls a year – equivalent to eight every second. Philip Hammond, the Chancellor, will use his Autumn [...]
