By The Enforcd Team

Pension Transfer Update

The 2015 accounts for Glasgow based Intelligent Pensions Limited were jubilant: “Turnover has grown this year by 15.4% and the company generated a profit on ordinary activities before taxation of £285,990, a substantial increase from £159,784 reported for 2014. The recent changes to pension legislation have proved to be very beneficial for the Company with …

By The Enforcd Team

The Brooklands SIPP Scheme

Brooklands Trustees Limited languishes on the Financial Services Compensation Scheme (FSCS) complex cases page. It was established in 2006, and operated subsidiaries in the UK, New Zealand, Dubai, Australia and Gibraltar. According to its insolvency practitioners, it acted as trustee to over 6,000 individual pension schemes worldwide. Because it operated self-invested pension plans, it was …

By The Enforcd Team

The De Vere Group

In the 2017 Finance Bill, Her Majesty’s Revenue and Customs (HMRC) proposed that: Transfers to qualifying recognised overseas pension schemes (QROPS) requested on or after 9 March 2017 will be taxed at a rate of 25% unless at least one of the following apply: ·         both the individual and the QROPS are in the same …

By The Enforcd Team

Advising on Pension Transfers

A cryptic Requirement on the Permission section of the FCA register record for Intelligent Pensions Ltd regarding pension transfers states: “immediately cease to provide advice in relation to the transfer, or conversion, of safeguarded benefits under a pension scheme to flexible benefits”. For deVere and Partners (UK) Limited, we see a similar entry: “Immediately cease …