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 Board is pleased to announce that the Group has traded in line with market expectations of profit before tax of £2.7 million for 2016 (2015 actual: £2.7 million)
STM Group Chief Executive Officer Alan Kentish and Chief Financial Officer Therese Neish join Sarah Lowther in the Stocktube studio to discuss international pensions, tax jurisdictions and what implications may lie ahead as a result of June’s Brexit vote.
STM Life announces the launch of the STM Life Portfolio Bond with simplified charges to create an incredibly competitive product for the single premium bond business.