Following the introduction of a 25% tax charge on transfers into QROPS based outside of the EEA, in its annual results for 2016, published this morning, STM Group said the ‘worst case scenario’ would see it receive £1.1 million less than expected in revenue this year.
The UK’s 2017 Finance Bill was published on 5th December. This provides the draft legislation for many tax changes to take effect from April 2017. STM Group Plc highlights some of these changes as follows.
We are pleased to announce an extension of the zero establishment fee for new QROPS applications. The zero establishment fee will remain in place for all applications received before the 31st of March 2017.
STM Group plc is pleased to announce the launch of the STM Gibraltar (AUS) Superannuation Scheme. It is approaching two years since HMRC removed all Australian schemes from the ROPS list and during the intervening period, the STM product development team have worked closely with Australian legal and tax specialists to develop a robust yet flexible retail solution.