The Isle of Man Association of Pension Scheme Providers (APSP) has stated that the Isle of Man will continue to monitor the situation before any decision on changes to QROPS legislation is made.
The Isle of Man Association of Pension Scheme Providers (APSP) said it has been working together with various Isle of Man Government Departments to ensure that a solution to the QROPS industry leading 50C Schemes is not only robust, but also has longevity in relation to future business. Speaking on behalf of the APSP, Deputy Chairman Mark Kiernan said: “The Island finds itself in an unusual situation. The amendments which are required to make 50C meet the new HMRC Regulations are minimal in nature, however some of the Budget announcements made by HMRC have potentially serious undertone...
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