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HMRC confirms rules around QROPS list suspension

HMRC confirms rules around QROPS list suspension

HM Revenue & Customs has confirmed that transfers made after 6 April 2015 into QROPS that are no longer featured on its overseas pensions list when it returns from suspension will not be tax-free.  However, in a note released last week the Revenue did not confirm whether unauthorised transfers will also be subject to an unauthorised payment charge, which several senior industry figures have said will be the case. Please link to International Adviser to read the full article by Daniel Flynn.

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