Alistair Darling to Target Tax Evasion

With the expected crackdown from Alistair Darling on offshore tax evaders in tomorrows budget – must come a need for IFA’s to know they are not becoming unwittingly caught up in the net. How many understand the implication of Gaines-Cooper, Double Tax Agreements, Australia and New Zealand Visas and QROPS. A lot of learning is required very, very quickly!

With heavy betting on the maximum penalty rising to 200% of the tax owed, what will the impact be of poor pension advice.

With stories of QROPS being set up with pensions for those who have no intention of leaving UK, we can see advisers caught up in the onslaught. With HMRC with increasing capability to unearth these people with Tax Information Exchange Agreements and revisions of Double Tax Agreements and footprints left by QROPS transfers. There is a growing need to check who you are dealing with if a QROPS transfer is being recommended. Please be sure to check that your adviser is registered with the Financial Services Authority.

For more information on Australia and New Zealand QROPS pension transfer advice please contact the QROPS pension transfer advice team at Montfort International on 01483 202072 or visit our website www.miplc.co.uk.