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HM Revenue & Customs has responded to UK government discussions on giving the same rights to qualifying recognised overseas pension schemes as to traditional UK-based pensions.
Commenting on the government’s Freedom and Choice in Pensions consultation, which closed in July, HMRC stated that the changes to pensions rules, which will be brought into force in April 2015, should be extended to Qrops schemes.
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A spokesman for HMRC pointed to the government’s own response to the consultation. In section 2.8, it said it would be “considering the implications” of changes to the pension tax rules, which would have implications for the rules relating to Qrops.