Malta & Gibraltar

If you had already exited your UK pension and transferred to a QROPS based in Malta or Gibraltar before 9 March 2017, you should seriously consider our Onward Transfer service.

The effect of HMRC’s 8 March 2017 announcement (effective 9 March 2017) means that unless you live in these jurisdictions you cannot send further money there without incurring the Overseas Transfer Charge which is currently 25%. Payments to Australian residents from Malta or Gibraltar may also expose you to potentially uncontrollable risks.

However within the 8 March 2017 announcement, provision was made for “onward transfers”. This is a highly specialised area of advice which we at DB Advisers can provide. We can help you exit potentially troublesome jurisdictions and reduce your exposure to those potentially uncontrollable risks.

Anthony is our specialist in this area of advice and has helped many clients navigate these issues in the past.