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Fully flexible QROPS to lose IHT-exemption?

Fully flexible QROPS to lose IHT-exemption?

QROPS which embrace HMRC's full flexibility proposals will not qualify for inheritance tax-exemption because of an omission by the Revenue, a leading provider of the schemes has said.

Gary Boal, managing director at Isle of Man-based Boal & Co, said HMRC's December proposals to introduce full flexibility to Qualifying Recognised Overseas Pensions Schemes (QROPS) have made no changes to SI 2010/51, the UK legislation which ensures the schemes are exempt from UK IHT.

Please link to International Adviser to read the full article by Daniel Flynn.

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