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HMRC have launched an online service for overseas scheme managers and UK scheme administrators of qualifying recognised overseas pension schemes (QROPS).
Users of the new offering can notify the Revenue that a scheme is a recognised overseas arrangement, and report payments made out of funds received from a UK pension scheme.
The system also allows managers to notify tax officials of fund value, change to details or status, and additional information required for schemes that were formerly QROPS.
HMRC have launched an online service for overseas scheme managers and UK scheme administrators of qualifying recognised overseas pension schemes (QROPS).
Users of the new offering can notify the Revenue that a scheme is a recognised overseas arrangement, and report payments made out of funds received from a UK pension scheme.
The system also allows managers to notify tax officials of fund value, change to details or status, and additional information required for schemes that were formerly QROPS.
HMRC will write to managers who have previously told the department about a recognised overseas pension scheme. The letters will contain the manager ID and activation token needed to enrol for the online service.
UK scheme administrators can use the new offering to notify the taxman that a UK-registered scheme has transferred sums or assets to a QROPS.
