HM Treasury
 Printable version
|
 E-mail this to a friend
|
Government introduces legislative measure on QROPs to tackle tax avoidance
David Gauke,
Exchequer Secretary to the Treasury, has today announced a change
in legislation to prevent tax avoidance. The measure will prevent
individuals from taking advantage of a tax loophole that would
have emerged today had the Government not taken action.
The measure will close an unintended tax loophole for UK
residents transferring pension savings overseas. Further details
can be found on HMRC’s website.
Legislation, which will have effect from today, will be
introduced in Finance (No.3) Bill.
Exchequer Secretary to the Treasury, David Gauke MP said:
“The Government has set out a clear strategy on preventing tax avoidance. We will not hesitate to take action to stop those who seek to take unfair advantage of unintended tax loopholes. Today’s measure demonstrates our commitment to act quickly to close these.”
Notes for Editors
1. QROPS are Qualified Registered Overseas
Pensions.
2. More details on this change can be found on the
HMRC website.
3. A Written Ministerial Statement confirming
this measure will be made at the first opportunity following
Parliamentary recess.
Non-media enquiries should be addressed to the Treasury
Correspondence and Enquiry Unit on
020 7270 4558 or by e-mail
to public.enquiries@hm-treasury.gov.uk
This Press Release and other Treasury publications are available
on the HM Treasury website
hm-treasury.gov.uk For the latest
information from HM Treasury you can subscribe to our RSS feeds or
email service.
Media enquiries should be addressed to the
Treasury Press Office on 020 7270 5238.
Contacts:
HM Treasury Press Office
Phone: 020 7270 4558
NDS.HMT@coi.gsi.gov.uk
HM Treasury Press Office (Media)
Phone: 020 7270 5238
NDS.HMT@coi.gsi.gov.uk
