There have been a number of recent developments affecting qualifying recognised overseas pension schemes (QROPS). The DOTAS regime already extends into the area of pensions, and the advent of the near-impenetrable ‘disguised remuneration’ legislation under FA 2011 can apply to a scheme whether or not UK based. Already in 2012 there have been two sets of QROPS regulations, and provisions in FA 2012 to consider, with further legislation pending. There are new and extended reporting requirements for QROPS, and a tax requirement which is highly controversial in nature. HMRC has been reviewing its QROPS list and deleting several schemes from its content.
