LTA changes give life to QROPS?

Good day, I read an article in this weekend’s Financial Times where an advisor suggests that you can protect you pension against any reintroduction of the lifetime allowance (as Labour have suggested they could do) by transferring your SIPP into a QROPS - even if you are currently UK resident. The advisor's argument seems to be that after the LTA has been repealed; anti-avoidance provisions no longer apply. Please can HMRC confirm the position? Much appreciated.

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Hi

No. HMRC cannot comment on future speculative events.

Thank you

OK much appreciated, I will revert in a few months once it has become law.

Good day, further to my previous query, I am now considering whether to transfer my pension to a QROPS, as in the future I intend to retire to Europe (most likely Portugal). Based upon the recent legislation changes, specifically the Lifetime Allowance being replaced by the Lump Sum Allowance, Lump Sum & Death Benefit Allowance and Overseas Transfer Allowance, and also considering the Overseas Tax Charge, am I correct in thinking that I would be treated the same if I transferred to QROPS now as a UK Resident, as I would be if I was resident in an EU country such as Portugal. Much appreciated.

Just following up - please can HMRC confirm the position post the legislative changes which came into effect this tax year.

Hi Jason Spilkin

Please refer to Transferring your pension

Thank you

Hi,
  
Please scroll down to overseas transfer allowance in the following guidance for more information:

Lifetime allowance guidance newsletter: March 2024

Thank you.