Mis-sold or mis-managed QROPs?

  • No Win, No Fee
  • No hidden charges
  • Over 15 years experience
  • Specialist solicitors
  • Professional friendly service
We are writing to say how happy we are with the way your company dealt with our claim. We found your website while searching online and we have found your company to be very approachable and helpful throughout.  Mr and Mrs Deramchia

What is a QROPS?

In April 2006 QROPS (Qualifying Recognised Overseas Pension Schemes) were introduced to facilitate the transfer of pension funds overseas (subject to certain requirements set by HMRC being met). A QROPS is a form of pension located outside of the United Kingdom, which is able to receive funds from a registered UK pension. A QROPS can be very attractive because of the potential tax benefits, namely the possibility of avoiding UK income tax and substituting it with a lower rate of tax (depending on the location of the QROPS). Whilst a QROPS can sound very attractive, in recent years a number of QROPS have been shut down for either failing to comply with the legislation and/or being used to exploit tax loopholes.

Whilst a QROPS can sound very attractive, in recent years a number of QROPS have been shut down for either failing to comply with the legislation and/or being used to exploit tax loopholes…

The dangers of transferring into QROPS that is later disqualified

The legislation surrounding QROPS is complex and even if a particular scheme is listed on HMRC’s ‘list of accepted schemes’ it does not provide any guarantees that the scheme is not in breach of legislation and therefore subject to disqualification at a later date. If you find yourself in breach of such legislation by making an “unauthorised transfer” (i.e. a transfer into a scheme that is in breach of legislation) the penalties and potential losses are significant:

  • Unauthorised transfers are subject to be taxed at 55%.
  • Transfers are often subject to large commissions.
  • Loss of original benefits from the pension the funds were transferred from.

If you have been advised by a regulated financial adviser to transfer your pension in to a QROPS that has later been disqualified please contact us to discuss your circumstances at no cost on 0208 870 7849. If your case is accepted, you will be offered a “No Win No Fee agreement”. Generally, if you do have a claim against your financial adviser, it will be covered by your adviser’s insurance policy.

NO WIN, NO FEE

Take our 15sec test to see if you could be entitled to compensation

We're committed to ethical marketing and we'll NEVER cold-call or send spam emails or text messages to you.

Mis-selling or mis-management by a SIPP Operator?

Have you suffered financial losses on a SIPP operated by a SIPP operator? If so, then you may have grounds for bringing a No Win No Fee claim.

Some SIPP operators have entered into dealings with third party advisers who are not authorised and regulated by the Financial Conduct Authority to give pension or investment advice. This is despite their regulatory body publishing alerts and giving warnings against such actions.

View More

Mis-sold or mis-managed investment or pension?

  • You were sold an investment without having been properly advised of the risks
  • Your personal circumstances or attitude to risk wasn’t properly considered
  • You were sold a SIPP or poor returning annuity
  • You were advised to invest all or most of your savings into a single investment
View More

We've got your questions covered

One of the UK’s leading specialists in financial mis-selling... The Times
finance-monthly trustpilot

Make a no obligation enquiry

We're committed to ethical marketing and we'll NEVER cold-call or send spam emails or text messages to you.