Leaving the UK
Pension planning is a concern for many HNWs leaving the UK - in this case study we look at the key things to consider
Key Learning Points
We were delighted to be joined by Peter Sayers of Strabens Hall to talk us through Qualifying Recognised Overseas Pensions (QROPs) in a case study looking at a UK dimciled individual holding a pension plan in the UK and a siginficant share holding in Switzerland that is about to list on the Swiss stock exchange. During the discussion, we will cover:
The mechanics of the UK lifetime allowance tax charge
What are QROPs
What QROPs planning is available in this case study and how this has been impacted by changes to legislation requiring the QROP and the pension holder to be in the same country
Advantages of transferring to QROPs
Peter is Head of International Business Development, Strabens Hall, Jersey. Peter has responsibility for promoting Strabens Hall’s wealth planning services to clients and their professional advisers in the key offshore jurisdictions, including the Channel Islands, Switzerland, Monaco and Bermuda.
Peter qualified as a financial adviser in Jersey in 1995 and has always focused on advising clients with an international profile, with a particular focus on international pension planning and high value life assurance solutions. Prior to joining Strabens Hall, Peter was a partner in a multi-disciplinary wealth management business with offices in Jersey, Switzerland and Cyprus. He subsequently established a specialist consultancy practice in Jersey to provide wealth planning services to private banks, family offices and wealth managers.
Peter splits his time between Jersey and London and travels extensively in Europe and further afield. In his spare time, Peter enjoys outdoor activities with his three children, skiing, cycling and any activity connected to the mountains.