Every year, legislation requires a review of the Earnings Trigger and Qualifying Earnings Band (QEB) thresholds that will apply in the following tax year.
Where transfers of funds are made from a UK-registered pension scheme to an overseas one, that overseas scheme must be ‘recognised’ by HMRC to maintain UK tax benefits. HMRC publishes an updated list of overseas pension schemes that have told them they meet the necessary criteria to be a Recognised Overseas Pension Scheme (ROPS).
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