50c QROPS for HNWI

Boal Trinity IOM 50c QROPS

The 50c QROPS scheme was thought to be suspended back in October 2010. Since other QROPS providers have asked HMRC for clarification on the Isle of Man 50c QROPS, it was thought to be temporarily suspended. This is not the case and we have received notification from Gary at Boal and Co.

Correction. Thanks to Gary Boal of Trinity:

1. The Trinity scheme has never been “suspended”. It was registered as a QROPs on 23 October 2010 and has remained registered as a QROPS ever since. It has never been suspended, and it has never been excluded.

2. Trinity appeared on the HMRC published list of QROPS and then some time later was removed by HMRC from that list, without any reason or justification. In January 2011 it was restored to the published list: Boal and Co. received a written apology from HMRC for their actions. Trinity has remained on the HMRC published list ever since. Being on the published list, and being a QROPS, are two quite different things.

The Trinity QROPS Scheme run by Boal is a real bonus for higher rate tax payers, who can access a larger lump sum later down the track.

For larger pensions, the Boal Trinity QROPS may be perfect for some expats living abroad.

For more information, email qrops@credendaassociates.com

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