No nasty surprises for NZ QROPS

However, other countries may soon be targeted by similar regulations to those foisted on New Zealand, which seem to have simply shifted the conduct targeted by the UK regulator elsewhere. UK’s tax department the HMRC has released its draft tax bill for next year,...

UK State pension and living in New Zealand

This factsheet sets out the key elements of the UK State Pension scheme and the impact that UK State Pensions may have on your payments of New Zealand Superannuation or Veteran’s Pension. The information about UK State pensions should only be used as a guide. For more...

Fish-hooks on all sides for foreign savings

Britons are the single biggest group transferring retirement savings to New Zealand. Holding foreign retirement savings is a Catch 22 situation. Whichever way you turn there are fish-hooks. Tens of thousands of Kiwi residents have built up sizeable overseas retirement...

Advisers stunned by pension transfer ‘tax grab’

Advisers have been caught on the hop by the Inland Revenue’s new stance on pension transfers, which could leave some of their clients facing six-figure tax bills. by Niko Kloeten Until recently it’s been thought that UK superannuation fund transfers aren’t taxable,...

Frustrating wait for QROPS providers

A month after “Q-Day”, New Zealand QROPS providers still find themselves in limbo thanks to delays by the UK tax department in processing their applications to be registered under the new rules. On April 6 tough new rules came into force affecting New...