We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
QROPS - need advice please
Options
Comments
-
ok makes sense thanks everyone - so the suggestion is to leave it in the uk and move to portugal. Then as soon as I hit 55 then take 100% of the pot and pay the tax charge for lifetime allowance. Because I am in portugal I can aviod the uk tax. Of course i wont be able to return to the uk as a resident for some time but to be honest thats not a big deal for me - thanks0
-
Right. You're a great case for the Portugal setup because you do plan to stay abroad, you're not just using it as a temporary tax trick.0
-
Bear in mind that the pending legislation only says that this applies to "temporary non-residency". There may well be significant changes to the word "temporary" as it applies here, so you may wish to play it safe and not raid your entire pension if there's even the slightest chance of returning to the UK as a resident in future.ok makes sense thanks everyone - so the suggestion is to leave it in the uk and move to portugal. Then as soon as I hit 55 then take 100% of the pot and pay the tax charge for lifetime allowance. Because I am in portugal I can aviod the uk tax. Of course i wont be able to return to the uk as a resident for some time but to be honest thats not a big deal for me - thanksI am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Has anyone had any experience with Charter Cross based in Dubai. They phoned me out of the blue to offer me a QROPS pension in Malta. Not sure whether to proceed.
Has anyone else used them? I live in Canada by the way0 -
You should operate on the basis that any company you have never dealt with before that phones you out of the blue is a scam or fraud and be on the lookout for further scam attempts.0
-
plus if something goes wrong, good luck trying to enforce legal judgments in Dubai...0
-
Genuine regulated financial services companies do not cold call. Most scams come from unregulated firms or firms operating outside of the UK.
Just think for a second. You are based on Canada and a company from Dubia cold called you about transferring your pension to Malta. Does that not sound alarm bells to you?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards