QROPS/ROPS
UK Pension TransfersQROPS
Our team has a wealth of experience administering QROPS registered SMSFs, working with Financial Advisers and Trustees alike to assist in the transfer their UK Pension entitlements to Australia.
Following the changes to the rules for UK Pension transfer on 13 April 2017, which resulted in almost all previously recognised QROPS being removed for non-compliance, Premier has again been successful in assisting several SMSFs to meet the HRMC conditions to be a recognised overseas pension scheme (ROPS).
Where SMSF membership is restricted to those aged over 55 (via an amendment to the trust deed for existing SMSFs) and all other ROPS requirements are met, a QROPS scheme registration can be successful.
Our QROPS Services
Our QROPS services:
- New SMSFs – Establishment of a QROPS compliant SMSF
- Existing Funds – Obtaining a deed of amendment using our preferred legal provider to meet ROPS requirements
- Establishment and registration of a corporate trustee with ASIC
- ATO fund registrations
- Assistance with preparation and lodgement of QROPS application with HRMC
- Facilitation of transfer of UK Pension in consultation with UK and Australian Financial and Tax advisers
- Ongoing support to meet QROPS reporting requirements
Transfer to a non ROPS compliant scheme will result in a 40% to 55% tax charge on the transfer from your UK fund