Guernsey Finance

Guernsey and UK industry experts are set to tell a London audience about Qualifying Recognised Overseas Pension Schemes (QROPS) and why the Island is the jurisdiction of choice for the product.

The masterclass, ‘Guernsey – Cream of the QROPS’, is being held at the Grange St Pauls Hotel in London on Wednesday 16 September.

The speakers will be Richard Green, Deputy Director of Income Tax for the States of Guernsey; Roger Berry, Managing Director of the Concept Group; Paul Buckle, Group Partner at Carey Olsen; David Denton, UK Head of Sales for Royal Skandia; and Deborah Moon, Technical Development Manager, Royal London 360°.

This team will tackle key issues, such as the pensions environment pre and post ‘A Day’, some of the myths surrounding QROPS, the position of Her Majesty’s Revenue and Customs (HMRC) – especially the relationship with Guernsey, Guernsey’s taxation regime and the other advantages of QROPS schemes through providers in Guernsey.

The afternoon seminar will be introduced by Peter Niven, Chief Executive of Guernsey Finance – the promotional agency for the island’s finance industry.
 
“When HMRC introduced a series of changes to the UK pensions system from 6 April 2006 – widely known as ‘A Day’ – the overhaul included withdrawing the existing agreements for the transfer of UK pension rights to overseas schemes and meant that, in effect, this would only be possible if the scheme was recognised by HMRC as a QROPS,” said Mr Niven.

“Since the introduction of the QROPS regime in 2006 Guernsey has become the leading jurisdiction for providing this product. A key reason is the security that Guernsey offers – we continue to be proactive in ensuring that our schemes retain approval by HMRC.

“This strong relationship with HMRC is backed up by the advantages offered by Guernsey schemes, such as the flexibility in tax planning, investment choice and benefit drawdown, as well as the experience and expertise of service providers and the Island’s reputation for legislation and regulation of the highest standards.

“Therefore no matter whether you are advising expatriates / those considering moving abroad or this is your personal position, then it will be well worth considering the advantages of QROPS and in particular the specific benefits that schemes from providers in Guernsey can offer. Attending this seminar provides a great opportunity to hear from both Guernsey and UK experts, ask them questions and meet face to face with local service providers from the Island.”

The free masterclass, ‘Guernsey – Cream of the QROPS’, takes place at the Grange St Pauls Hotel, 10 Goliman Street, London, on Wednesday 16 September 2009 from 4pm. The main presentations will be followed by a Q&A session and then a drinks and canapés networking reception sponsored by Intertrust.

Recommended attendees are tax lawyers, accountants, independent financial advisers (IFAs), SIPP/SASS providers, personal pension providers and specialist pension firms, although it is open to all.

For further information or to book a place, contact Jennifer Baudains by email j.baudains@guernseyfinance.com , telephone +44 (0) 1481 709763 or fax +44 (0) 1481 720091.

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