HMRC scraps thousands of QROPS from overseas pensions list
HM Revenue & Customs has dropped thousands of QROPS schemes from its recognised overseas pension schemes (ROPS) list, with Australian schemes fairing the worst. Released today after a period of suspension, the list shows that the total number of schemes has fallen from around 3800 to 663. Australian schemes dropped from 1,600 to one, with the local government superannuation scheme – which is only open to local government employees – the only one left remaining. Please link to International Adviser to read the full article by Katherine Denham and Daniel Flynn.