QPROPS
Jun 6th 2013, 5:01 am
#1
Forum Regular
Thread Starter
Joined: Jul 2012
Posts: 114
QPROPS
Hi
Has anyone successfully transferred their UK pension into a QPROPS provided and then withdrawn. How was it, what was the haircut? and who was the provider?
Has anyone successfully transferred their UK pension into a QPROPS provided and then withdrawn. How was it, what was the haircut? and who was the provider?
Jun 7th 2013, 1:33 pm
#2
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: QPROPS
Before that you need to consider if it is an appropriate course of action for YOU. It is not suitable for everyone and certainly not the miracle pension solution that some may claim. Before administrator you have to consider jurisdiction, as too many have been disallowed.
Trandferring to a QROPS with the intention of trying to cash it in, is not an approved HMRC activity and you could very likely be subject to a tax charge of 55% if you are even able to do so. No reputable provider will permit this.
Trandferring to a QROPS with the intention of trying to cash it in, is not an approved HMRC activity and you could very likely be subject to a tax charge of 55% if you are even able to do so. No reputable provider will permit this.
