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Guide to Qrops

Published by FTAdviser | Nov 02, 2011

However these schemes can reap rewards for clients and advisers if used correctly. This guide runs through the pros and cons of Qrops.

Answers supplied by Keith Boniface, marketing director of Brooklands Pensions.

  1. Q: Do I need to consider Qrops if I am independent?

    Post-RDR, IFAs will need to be able to demonstrate they offer a truly whole of market approach to financial planning solutions and product selection.

  2. Q: What is a Qrops/Qnups?

    Qrops is a Qualifying Recognised Overseas Pension Scheme.

  3. Q: How do Qrops/Qnups differ from UK pensions?

    Until a Qrops scheme member has been non-UK tax resident for five full consecutive UK tax years, Qrops trustees must report to HMRC all payments...

  4. Q: How can you research Qrops/Qnups?

    HM Revenue & Custom’s website has sections dedicated to Qrops and Qnups.

  5. Q: How do you transfer into Qrops/Qnups?

    You would only transfer your UK pensions into a Qrops.

  6. Q: What are the pros and cons for advisers?

    Qrops and Qnups are not for everyone but, according to Keith Boniface, marketing director of Brooklands Pensions, in the right circumstances, their...

  7. Q: What are the pros and cons for advisers?

    By being able to advise on Qrops and Qnups advisers may be able to continue their relationship with a client who is moving overseas.

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