A Guernsey government statement this morning has revealed that HMRC has informed them that in future, Guernsey pension providers will only be permitted to accept transfers of the UK pensions belonging to Guernsey residents. This has caused much confusion among Guernsey based QROPS providers and will lead to much discussion in the coming days. What […]
Tag Archives: hmrc
UK State Pension For Expats – Making Up Missed Years
If you haven’t been making National Insurance Contributions for some time and still do not have the requisite number of qualifying years (30), then you can make up missed years going back for the last 6 years. If you obtain a State Pension Forecast (see here), this will tell you how much you need to […]
QROPS Update – Isle of Man Announcement
The Isle of Man’s pension industry has finally broken its silence on the impending change to QROPS legislation, making only their second official comment since the proposed changes were announced in December last year. In a statement that doesn’t actually say much they announce that they have drawn up “a number of options” to deal […]
Pension Unlocking/Reciprocation Schemes
In an unprecedented move, the UK Financial Services Authority, HMRC and the Pensions Regulator released a joint statement a couple of days ago, warning consumers to steer clear of pension offers that claim to be able to provide loans or release tax-free cash from people’s pension pots before they reach age 55. You can read […]
Obtaining a UK State Pension Forecast
The best way to establish the number of qualifying years that you already have as well as the level of state pension that you can currently expect, is to contact the state pension forecasting team in Newcastle. Their telephone number is +44 191 218 3600. If you contact them, they will then send you the […]
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