Guernsey QROPS schemes hit hard
The future of Guernsey QROPS schees remains in serious doubt after HMRC removed approval status for QROPS for all but three out of three hundred Guernsey based QROPS schemes.
the proble appears to be in HMRC’s opinion that QROPS schemes should be available in the same format to residents o the country in which the QROPS scheme is based, and if this is not the case then they will look to remove QROPS approval.
It appears that a more likely location for QROPS schemes in future will be countries such as Malta, who benefit from double taxation agreements with the UK, whilst still being members of the EU.
Therefore it appears that QROPS schees will continue to flourish in future, in the same wayt hat they have to date, but unfortunately it does not appear that this will be with the participation of Guernsey based schemes.