April 2011 saw the introduction of new legal reforms regarding flexible drawdown. This created fear within the wealth management industry that these reforms would have a negative effect on QROPS. Chief Executive of Guardian Wealth Management, David Howell, shared his opinions with the Overseas Property Professional magazine on how he feels the QROPS market may or may not be affected.
QROPS can be a great strategic wealth management move for expats looking to gain greater advantages from their pension funds. QROPS can provide an opportunity to avoid the high taxation that affects UK pension holders, as well as many other key benefits. QROPS can offer tax-free withdrawals of up to a massive 30% for expats who have been living outside of the UK for five years or more. QROPS also negate inheritance tax liability and provide much more flexibility in terms of investments. Read more about the Legal reforms
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