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Posted Tue, 29 Oct 2024 16:42:02 GMT by Thomas Parkhill
I’m a UK (and now Italian) citizen. I have been tax-resident in Italy since 2008 – in other words all my tax is paid here in Italy. In the period 1999-2007 I paid into a UK private pension scheme, and I received UK tax relief on this. In 2016, I transferred this UK pension to a QROPS-registered Italian scheme. Shortly after the transfer, I was told that the Italian scheme had lost its QROPS registration. The HMRC confirmed to the Italian pension scheme that I would not have to pay tax (“The decision has been made to treat the scheme as non-compliant with effect from 16 January 2017. Accordingly, we will treat transfers made before that date as recognised transfers and so free of UK tax charges on the transferring members”). I am now approaching my 70th birthday, and I would like to access this pension fund. Is there anything I have to do to ensure UK tax compliance in accessing these funds? Does the former QROPS scheme have to do anything?
Posted Tue, 05 Nov 2024 09:55:57 GMT by HMRC Admin 17 Response

Hi ,
 
Please have a look at the guidance at :

Overseas pensions: stop being a QROPS   .

Thank you .
Posted Tue, 05 Nov 2024 12:51:51 GMT by Thomas Parkhill
Thanks for the message. The guidance you highlight is guidance for fund managers - not for individuals. As the fund had QROPS status removed 8 years ago, it is inevitable that there is no-one in the organisation who knows anything about QROPS (or indeed, will put time into finding out about it). But my main problem is, what do I do to comply with UK tax regulation, not what the fund does. Any ideas?
Posted Fri, 08 Nov 2024 13:40:20 GMT by HMRC Admin 34 Response
Hi,
Please refer to the guidance using the link below:
PTM110000 - International: contents
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Thank you

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