British Teachers Abroad Have One Last Chance to Avoid UK Taxes on Their Pension

QROPS specialists are offering free transfers to Gibraltar QROPS for August only for teachers who want to retire abroad and avoid all UK taxes and future UK taxes on their existing teacher’s pension scheme. This is the final chance for teachers living abroad to transfer their UK pensions outside the UK tax net.

1 in 10 Brits live abroad. The number of teachers and support staff working in England’s state schools has risen to a record level of 1.3 million people. That doesn`t include private schools or part time teachers. If you have ever taught at a British school and want to retire abroad, there is one last chance to transfer your UK pension overseas.

The UK Treasury have just admitted that pensioners can beat the transfer ban to a Qualifying Recognised Overseas Pension Scheme (QROPS) due to a loophole which they plan to close next year. That means British teachers who want to retire abroad at some point in the future have less than seven months to get a transfer in. Seeing as it takes up to three months to transfer, teachers only have a few months left to transfer their pension overseas.

QROPS specialists are currently offering free pension transfers to a Gibraltar QROPS for the month of August.

British teachers are in high demand and get paid well in countries such as Dubai, Qatar, Taiwan, Vietnam, Japan and Korea. Teachers can now transfer their pensions overseas with them and avoid the high UK taxes for as long as they remain abroad. Even if they return, there are measures in place to reduce UK taxation even on return.

QROPS Specialists are offering free QROPS transfers for a limited time only as the transfer window will close relatively soon. QROPS Specialists have confirmed that the set-up fee will be waived for any transfers from UK teachers’ pensions to a QROPS. The ongoing fees would then be only £450 per year.

QROPS Specialists are global pension transfer specialists and have helped clients worldwide since QROPS first launched in 2006. QROPS Specialists understand the international tax treaties and have helped many British teachers move their pension out of the UK tax net and into the currency of a teacher’s new country of work or retirement. QROPS Specialists complete all paperwork on clients’ behalf and provide the lowest cost solutions for clients by teaming up with the most trusted worldwide QROPS providers.

Clients’ assets are place in trust and then protected through investing in offshore insurance providers. This gives the added benefit of reducing a client’s tax burden if a client ever returns to the UK: 5% of a member’s pension pot which is invested in an offshore bond can be remitted tax-free to the UK every year, even if the client moves back to the UK.

A spokesperson for QROPS Specialists has re-iterated, “We strive to be the best UK pension transfer specialists for British teachers moving abroad. We are looking to increase turnaround times for our clients and seek the best value for our clients”.

For QROPS members who want to transfer, first you will need to contact QROPS Specialists and get a transfer value analysis to see whether it is worth moving a client’s pension offshore. Once you have that information, QROPS Specialists will provide you with advice on where is the best place to hold your pension.

This is the last chance for a teacher to transfer a pension abroad before the loophole is closed forever, so if you want to get your pension out of the UK tax net, you need to act now.

To enquire about a UK pension transfer and get a free transfer analysis, please email: info@qropsspecialists.com

About QROPS Specialists:

QROPS Specialists provide a comprehensive service for clients wishing to transfer their UK pension to a Qualifying Recognised Overseas Pension Scheme (QROPS). QROPS Specialists have been giving advice on QROPS pension transfers since QROPS transfers were first introduced in 2006. QROPS Specialists have clients who live in Europe, Asia, Africa, Russia, Thailand, Malaysia, Singapore, Taiwan, Japan, Qatar, Dubai, Canada, USA, the Caribbean and many other countries worldwide.

QROPS Specialists’ advisers will make sure you receive clear, concise advice so that you can make an informed decision about whether to transfer your hard earned pension into a QROPS. It is their job to simplify the process for clients.