HMRC publishes a list of schemes that have told HM Revenue and Customs (HMRC) they meet the conditions to be a Recognised Overseas Pension Scheme (ROPS). The list has been updated with the addition of 10 new schemes and 1 removed.
HM Revenue and Customs (HMRC) cannot guarantee these are Recognised Overseas Pension Schemes (ROPS) or that any transfers to them will be free of UK tax. It is the employer’s responsibility to find out if there is any tax to pay on any transfer of pension savings.
HMRC will usually pursue any UK tax charges (and interest for late payment) arising from transfers to overseas entities that do not meet the ROPS requirements even when they appear on this list. This includes where taxpayers are overseas. HMRC will also charge penalties in appropriate cases.
The full list of schemes is available here.
