nun

There are several types of UK income that are not taxable when owned by non-residents. UK bank interest income is one.

I would be dubious about any unsolicited call that involves QROPS or any scheme to move my retirement money.

Just for further information, where do you recommend a US tax payer move their UK pension money, how should they report the transfer on their US taxes, how is it invested and what are the fees?

MidAtlantic

Strange that ghj9 has not responded to any of these comments or questions.

nun

I'm not surprised. QROPS are expensive and have issues for US tax payers and would take a lot of ghj9's time addressing them. For very wealthy individuals there might be some advantages in QROPS, but I would not even think about them without advice from dual qualified and independent advisers.

Owen778

I think you might be flogging a dead horse. He's got too many people to spam on LinkedIn to spend time discussing the actual financial details.

nun

I know, it just really annoys me that these QROPS are sold on the benefits of the US/Malta DTA when the US/UK DTA already covers pensions well and the US tax consequences are down played. There's lots of misleading stuff on QROPS websites and some downright lying.

theOAP

There's a site in Switzerland for expats, English Forum.ch. A number of British expats post there. One of the longest running threads has to do with - Dealing with financial services "cold callers". In fact, it becomes so long that it's now in it's second or third incarnation. Suffice to say, most posts are unhappy about the tactics used and complaints as to the excessive charges.

One well known company threatened to take legal action against the site if their name continued to be the subject of irate posts. As a result, you'll now find references to "Beer" or "De Beers" which is code for the real company.

I'll offer a link to the thread on the EnglishForum site, and call attention to the current last page and post #136 and QROPs (and the costs). Although not in this post, there are other references to contacts through LinkedIn.

Dealing with financial services "cold callers" - Page 7 - English Forum Switzerland

Of course, QROPs are not nearly the problem for those in other countries as much as they are for folks with a US tie.

nun

Yeah replace the B with a V....I've looked at their site and downloaded some of their guides, giving incorrect personal information and my "trash bin" email.

Owen778

Yes, that's the bunch of muppets who keep calling me.

Next time I actually answer the phone, I may go with the "You work for them? Tell me, how can you look yourself in the eye when you get up in the morning?" line.

nun

Tax won't be as much of a problem, but the cost and quality of the investments will be just as much of a problem wherever you live.