QROPS in 2009

We've covered the great tax planning opportunities covered by QROPS in previous articles. QROPS certainly suffered uncertainty in early 2008 as the interpretation of HMRC guidance notes lead to a few QROPS Trustees allowing the funds to be paid out in full. The most publicised qualifying status removal by HMRC being Singapore. In our latest article we look at the changes in 2008 and how they impact on using QROPS tax efficiently. See Tax Planning with QROPS in 2009. The most interesting recent development is Luxembourg's emergence as a QROPS jurisdiction, providing robust investor protection in the second largest centre in the world for administration and management of investment funds. 2008 delivered a clear understanding that QROPS are on HMRC radar. The 2008 pre-budget speech made no changes indicating HMRC will deal with compliance at an individual QROPS level. Whether 2009 budgets brings any changes will be seen but undoubtedly the current legislation is proving to be a revelation for non-residents.