There has been considerable confusion and unfortunately - in some cases - misinformation circulated by those with vested interests regarding the proposed changes to the regime for Qualifying Recognised Overseas Pension Schemes (QROPS), announced by HMRC on 6 December 2012. There have been varied reactions regarding the prospects for schemes that may lose QROPS status as well...... Read more

A good month for our portfolios! Our portfolios continue to perform well despite the downturn in the market. The returns on our UK Equity, Overseas Equity and Bond Portfolios over the last month were 3.1%, 6% and 1.7% respectively.

Last week HMRC issued, without any prior warning, a consultation document which set out proposed changes to the tax regime governing QROPS. HMRC intends that, subject to any matters that arise in the consultation process, the new regime will start on 6 April 2012 - and will affect all current QROPS.