Key changes to QROPS in HMRC’s draft legislation
On Tuesday 6 December, HMRC issued draft legislation in the form of the Overseas Pensions Regulations 2012. The new proposed rules and regulations are due to come into force as of 6 April 2012 and will affect many expatriate, non-domicile and UK resident individuals who are considering moving overseas. There is a consultation period up until 31 January 2012, although in the form that the legislation has been drafted, this is unlikely to be amended.