Andy Wood

Andy is a practical, creative tax adviser who assists a variety of clients in achieving their personal and commercial objectives in the most tax efficient manner.


We have recently just finished providing tax advice to a client who holds his money in a former QROPS (Qualifying Recognised Overseas Pension Scheme) held in Guernsey (this was ‘de-listed) as part of HMRC’s action against the jurisdiction a few years ago. The advance provided a review of his current options around his Relevant Non-UK scheme (RNUKS).

Essentially, one applies a statutory fiction created by Schedule 34 of FA 2004, which means that one pretends that the RNUKS is a UK registered pension scheme. Accordingly, if the transfer is one which would be permitted by a registered scheme then it is considered to be permitted for the RNUKS. Therefore, a transfer may be made by a RNUKS to either a UK registered scheme or a QROPS.

If you have any similar requirements then please let us know.

1 Comment:

Comments are closed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.